Finland's government takes 3.3% stake in Nokia for €844mn

By Johan De Mulder

Nokia has sold 3.3% of its business for €844mn to Solidium, the investment arm of Finland's government.

The multinational telco, which is headquartered on the outskirts of the Finnish capital Helsinki, has agreed to the deal a month after announcing better-than-expected fourth quarter results for 2017.

Solidium will see its acquisition of the stake as a coup, with its remit 'to strengthen and stabilise Finnish ownership in nationally important companies'. It put itself in a position to take the stake after selling its 137.1mn shares in Swedish telco Telia last month, a move that generated a reported €523mn worth of capital.

See also:


"The divestment of our stake in Telia in the beginning of the year made it possible for us to invest into Nokia, which fits perfectly into Solidium’s portfolio," said Solidium CEO Antti Mäkinen.

"The appealing factors for us are the company’s strong market position combined with broad technological expertise, which provides opportunities for value creation. In line with our mandate, we hereby strengthen and stabilize the domestic ownership in this nationally very important company."

Solidium now has an equity investment portfolio worth €11bn, with its new Nokia stake making up 11% of the total.

Share

Featured Articles

Musk’s multibillion hostile Twitter takeover – the timeline

As billionaire entrepreneur Elon Musk buys Twitter for US$44bn, we draw up a timeline, from the buying of shares to the critical tweets and unsolicited bid

Sustainable moves businesses can make to win customers, IBM

With half of consumers saying environmental sustainability is more important today than a year ago, businesses should up their eco action, says IBM report

Banks and consultancies top workplaces to grow career in UK

Financial and professional services firms rank highest in LinkedIn Top 25 best workplaces list – from Barclays, Lloyds and HSBC, to PwC, Deloitte and EY

Top 10 women in technology in Europe

Leadership & Strategy

The value of ESG links sustainability to business returns

Sustainability

Top 10 European football clubs by revenue 2022 – Deloitte

Corporate Finance