Nokia-Microsoft Deal Delayed

As reported by CNBC, Nokia has been forced to delay the completion of the sale of its phone business to Microsoft due to continued regulatory hurtles in Asia. Nokia stated that they expect the deal to close in April 2014, while previous guidance had stated an expected Q1 2014 close. In September 2013, Microsoft agreed to buy Nokia's phone business for $7.2 billion. However, after six months the deal has not closed, fueling concerns about whether the merger will ever come to fruition. Analysts believe the group may be forced to offer further concessions to Asian regulatory authorities, despite receiving approvals from both the European Commision and US Dept of Justice. Most likely, given the clout of these two companies, the deal will be pushed through and necessary changes made to satisfy all regulatory requirements. Read the entire article here.

Mobli Receives $60M in Funding from América Móvil

November 6, 2013 11:18 by Clayton Reeves in Telecom, Venture Capital  //  Tags: , ,   //   Comments (0)
It's getting crowded in the mobile video and picture sharing space.  As reported in TechCrunch, Mobli, an Israel based picture/video sharing service and competitor to apps like Instagram, received a $60 million investment from América Móvil. América Móvil, if you remember, is the Latin American telecom giant led by billionaire Carlos Slim. The strategic investment will provide Mobli with access to América Móvil's millions of mobile users. In addition, the funds will allow Mobli to introduce a new "visual search engine." “Mobli has developed a remarkable technology and this strategic alliance will allow América Móvil to bring value added experiences for its users throughout the Americas,” Carlos Slim recently said. This isn't the first high profile backing Mobli has received - celebrities such as Leonardo DiCaprio, Tobey Maguire, and Serena Williams have already invested in the company, which is now valued at around $1 billion. Read more from TechCrunch here. Snapshot of mobli milestones: Source: CrunchBase

Past Posts