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Finland boosts influence on Nokia with $1 billion investment

Reuters  |  HELSINKI 

By Jussi RosendahlHELSINKI (Reuters) - Finland's state investment arm has spent about 844 million euros ($1.04 billion) on building a 3.3 percent stake in Nokia, strengthening national influence over the telecom network gear maker.Nokia ruled the global mobile phone market a decade ago and the collapse of that business was a major cause of a decade of economic stagnation from which Finland is only just recovering.Nokia and Microsoft, which bought the Finnish company's phone business in 2014, have cut thousands of jobs in the Nordic country. Now focused on the telecom network industry, Nokia ...

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First Published: Tue, March 13 2018. 19:53 IST