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Finland acquires 3.3% stake in Nokia

The Finnish government said it acquired a 3.3% stake in Nokia Corp. for about €844 million as it seeks to strengthen a company seen as crucial for the nation.

Solidium Oy, Finland's state-owned investment company, said Nokia now accounts for about 11% of its €8.4 billion of total equity investments. The fund said it bought shares in the telecom equipment-maker from the market at the start of this year after it divested its stake in Swedish telecom company Telia.

"The appealing factors for us are the company's strong market position combined with broad technological expertise, which provides opportunities for value creation," said Solidium CEO Antti Mäkinen. "In line with our mandate, we hereby strengthen and stabilize the domestic ownership in this nationally very important company."