Friday, November 11, 2011

Nokia’s Romanian Assets Seized by Tax Agency, Realitatea Says

Romania’s tax authority seized the assets of Nokia Oyj (NOK1V)’s local unit over an unpaid debt of about $10 million, Sorin Blejnar, the head of the agency, was quoted by the local media, including Realitatea TV, as saying.

Nokia, the world’s largest maker of mobile phones by volume, said on Sept. 29 it planned to close its factory in Romania this year.

“We decided to seize the assets as a precautionary measure to prevent Nokia from selling them before they pay their debt to the state,” Blejnar said, according to Realitatea. “This won’t affect the activity of the factory.”

A spokesman for Nokia said they had no immediate comment when contacted by Bloomberg.

To contact the reporter on this story: Andra Timu in Bucharest at

To contact the editor responsible for this story: James M. Gomez at

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