Finland govt takes stake in Nokia

Finland govt takes stake in Nokia”

Nokia has since focused on the telecoms side of its business, although the phone market remains an itch it is unable to resist scratching, with Nokia branded mobiles emerging from China in the form of some solid Android performers and the odd bit of nostalgic whimsy.

While there is no mention yet of an attempt to get a place in Nokia's boardroom, Mäkinen said the intent of the investment was to "strengthen and stabilise the domestic ownership in this nationally very important company".

Solidium, the government investment arm, built the stake by buying shares on the market over the early months of 2018.

Solidium was not seeking a seat on Nokia's board at an upcoming shareholder meeting but it could look at that option in the future.

It has purchased 3.3 percent of Nokia for €844 million, meaning the firm accounts for 10 percent of its total holdings. He also noted that in addition to being an attractive investment target, Nokia is also Finland's largest company. The biggest owner at the end of past year was US asset manager Blackrock with a stake of 6.2 percent.

The current Nokia sells telecommunications network equipment and is a major player in the industry following the merger with Alcatel Lucent. Solidium manages minority holdings in 13 listed Finnish companies which mainly originate from an era of state-led industrialisation. Solidium's mandate is to own significant Finnish companies with an idea to keep them "more or less Finnish", Makinen told Reuters in an interview last month.

According to Nokia's webpage, three Finnish pension funds at this point own less than three percent of Nokia.

"This is somewhat surprising". The average acquisition price was 4.54 euros per share.

Like this


13 March 2018
Captain Marvel Is the First Superhero Nick Fury Meets
Captain America was set in the 1940s, and there have been brief stops in the mid-80s for Guardians of the Galaxy . When and how that deal with Fox finishes and comes together and we're told, "Hey, now you can start working on it.

13 March 2018
Egg hunts in Batavia to treat kids and dogs
The event is presented in cooperation with the Batavia Animal Clinic and and sponsored by Redfin and Pet Life Today. The city recreation department and commission are gearing up for the annual Christy Haberstroh Easter Egg Hunt, set for 2 p.m.

13 March 2018
How to Watch Manchester United vs. Sevilla
They are also flakey on the road and their 5-1 drubbing at Spartak Moscow earlier in the campaign was nothing short of a disaster. United are not now being tipped for the crown with the likes of Manchester City, Barcelona and Real Madrid dominating the odds .

13 March 2018
European Shares Seen Subdued Ahead Of US Inflation Data
Follow Fin24 on Twitter , Facebook , Google+ and Pinterest encourages commentary submitted via MyNews24. Earlier, Japanese stocks had also fluctuated, but they closed higher as Hong Kong and Chinese shares slipped.

13 March 2018
Eagles restructure Lane Johnson's contract
Prior to the 2016-17 season, the Eagles and Johnson agreed to a six-year, $63 million contract with over $35 million guaranteed. While they were roughly $10 million over, they continued to look for a solution to get under the cap by Wednesday.

13 March 2018
China to Merge Banking, Insurance Regulators: Document
Functions such as drafting key regulations and prudential oversight will be transferred to the PBOC, according to the document. There will be 26 ministries and commissions of the State Council after the reshuffle, the report said.

13 March 2018
Cogentix Medical, Inc. (NASDAQ:CGNT) To Release Earnings
During the same quarter past year , the company reportedly had income of $ 0.01 per share on $ 13.23 million in revenue. This continues the company's recent uptrend - as the stock is now up 23.6% over past one month time frame.

13 March 2018
Driver was killed when bus crashed into ravine
Baldwin County Sheriff Huey Hoss Mack says all of the people on board were brought to 10 hospitals in Alabama and Florida. An official with the bus charter company, First Class Tours of Houston , said the company was working on a statement.

13 March 2018
MoviePass CEO Shifts on How Much Data it Collects on Members
MoviePass CEO Mitch Lowe says his original comments "mischaracterized" the app's location-tracking feature. We watch where you go afterwards, and so we know the movies you watch.

13 March 2018
Haloti Ngata Reportedly to Sign Eagles Contract After 3 Seasons with Lions
Philadelphia Eagles general manager Howie Roseman has entered this offseason more determined than ever to win. Johnson had been due a base salary of 10.25 million, according to ESPN's Field Yates.