Finnish state fund Solidium exceeds 5% ownership in Nokia

The little green spy boat seen from the old Nokia House in the Keilalahti bay, Espoo, Finland. Photo by Jari Ijäs on December 8, 2010, with a Nokia C7.

The state owned Solidium Oy investment fund invested first time in Nokia back in 2018 and since then the Finnish fund has been increasing its ownership in the Finnish telecommunication giant by buying up shares. The ownership of Solidium Oy in Nokia surpassed 5% and Nokia posted a notification received under the Finnish Securities Market Act that “the holdings of Solidium Oy in Nokia have on September 3, 2020 exceeded 5% of the total number of shares and voting rights of Nokia.”

The exact ownership that Solidium has in Nokia is 5.01%. That makes the Finnish state fund the biggest shareholder registered in Finland, as can be seen on Nokia’s official website. Nokia is one of the biggest players in the mobile networks segment which is becoming an important aspect of national security, so it is not surprising that Solidium is investing. Besides the pure interest of the Finnish state backing a Finland-based company, Nokia’s stock price is expected to go up considering the increasing pressure the United States is putting on Huawei.

In the second half of 2019, the investment in Nokia had a negative return for Solidium, but the situation is getting better for Nokia and Solidium is increasing their number of shares.

source: Nokia