Finland boosts effect on Nokia phone with $1 bn investment

collected by :Molly Tony

as declared in HELSINKI (Reuters) - Finland's state investment arm has spent about 844 mn euros ($1.04 billion) on building a 3.3 % stake in Nokia phone (NOKIA.HE), strengthening national effect over the telecom network gear maker. Now focused on the telecom network industry, Nokia phone employs 6,300 people in Finland in a universal workforce of around 102,800. Solidium, the Gov. investment arm, built the stake with buying shares on the market over the early months of 2018. Economy minister Mika Lintila told the Nokia phone investment outline was purely drop to the board of Solidium. The Nokia phone investment accounts for around eleven % of its total equity stakes.

Finland invests $1 bn in Nokia

Reuters HELSINKI (Reuters) — Finland's state investment arm has spent about €844 mn ($1.04 billion) on building a 3.3 % stake in Nokia, strengthening national effect over the telecom network gear maker. Now focused on the telecom network industry, Nokia phone employs 6,300 people in Finland in a universal workforce of around 102,800. Economy minister Mika Lintila told the Nokia phone investment outline was purely drop to the board of Solidium. "For Finland, Nokia phone is of course an interesting company, and its ownership has been very dispersed," Lintila said. Nokia shares were drop 0.4 % at 1400 GMT.

Finland invests further than $1 bn in Nokia

as declared in The Finnish Gov. acquired a 3.3% stake in Nokia phone via its fully-owned holding firm SolidiumThe Finnish Gov. has acquired 3.3% of the shares in NOK for approximately 844 mn euros ($1.04 billion). The Gov. told the acquisition was made out of the state's holding firm Solidium. Solidium is a holding firm wholly owned with the state of Finland and a minority owner in nationally important listed companies. The holding's equity investments total approximately 8.4 bn euros. The company's internet loss too declined from 912 mn euros to 1.44 bn euros on promoted revenue and financial tax expenses.