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Finland acquired 3.3% stake in Nokia for $1.04 Billion

Nokia Campus Karaportti

Reuters reports that the Finnish government has acquired a 3.3% stake in Nokia (Nokia Oyj) in the year 2018. The investment is conducted by Solidium – the Finnish government’s investing arm. A govt investing in a private company like Nokia signifies its strong position and sustainability. The govt also sees Nokia as a very important company for Finland and hence it is ensuring that domestic ownership stays in the company.

Solidium’s CEO, Antti Makinen said the following in his statement:

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

Solidium acquired the 3.3% stake in Nokia for a sum of 844 million euros ($1.04 billion). The total valuation of the company at the same price would stand at roughly $31.51 Billion. Nokia’s current market cap at the Helsinki stock exchange is close to $33.24 Billion.

Source :

Reuters

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