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Finland invests $1 billion in Nokia to boost national influence

Reuters  |  HELSINKI 

By Jussi RosendahlHELSINKI (Reuters) - Finland's government investment arm has spent about 844 million euros ($1.04 billion) on building a 3.3 percent stake in Nokia to strengthen 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, which employs 6,300 people in Finland in a global workforce of around 102,800, is now focused on the telecom network industry where it competes with Sweden's Ericsson and ...

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First Published: Tue, March 13 2018. 16:07 IST