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Finnish Government won't buy Nokia stock to help the company

Posted: , by Victor H.

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Finnish Government won't buy Nokia stock to help the company
Finnish Nokia once accounted for 4% of its home nation’s GDP and kept Finnish national pride high, but with these troubled transitional times the company’s entered, a public debate started in the small Nordic country whether the Finnish government should give a helping hand and buy Nokia shares.

Those hopes however were quickly dashed when Prime Minister Jyrki Katainen said the government is not considering buying Nokia shares.

"This is not our business. We are developing Finland into a country where companies can do well, but this is not the way of support along which the government will go," Katainen explained on a visit in Salo, Finland. The city is home to a large Nokia manufacturing plant that the company plans to close.

The debate about the Finnish government and Nokia was also fueled by the fact that the country already holds shares in some companies it considers important for the national interest like air carrier Finnair and energy company Fortum.

Nokia’s declining exports however are hurting not only the company, but the state as well. Right now it makes up less than one 1% of Finland’s GDP, but Finland still remains one of the few triple-A rated countries in Europe.

source: Reuters

  • Options

posted on 21 Jun 2012, 05:45 7

1. JSern (Posts: 282; Member since: 22 May 2011)

Victor H. wrote this?
lol moving on

posted on 21 Jun 2012, 05:53 2

2. groupsacc (Posts: 232; Member since: 28 Feb 2012)

What's your problem?

posted on 21 Jun 2012, 05:56 9

3. RoundBallmer (banned) (Posts: 43; Member since: 19 Jun 2012)

Victor's a typical anti Nokia/MS guy.

posted on 21 Jun 2012, 06:08 6

4. homeedition88 (Posts: 10; Member since: 16 Jun 2012)

Right decision. At the end it is nokia's own mistake. M.s almost rules the company and they are using a Nokia maps infrastructure (and marketing strategy blabla) and they did not give a penny. They just install a Trojan in to the Nokia :)))

posted on 21 Jun 2012, 07:44 2

8. cepcamba (Posts: 717; Member since: 27 Feb 2012)

MS is giving Nokia more than a billion per year.

posted on 21 Jun 2012, 11:07

10. kindlefireowner (Posts: 503; Member since: 05 Dec 2011)

Dude. You have no clue of what you are talking about.

posted on 21 Jun 2012, 11:32 2

11. homeedition88 (Posts: 10; Member since: 16 Jun 2012)

That billion is goes for marketing and devices which are give away for free.

posted on 21 Jun 2012, 06:44 5

5. Veigald (Posts: 290; Member since: 13 Jan 2012)

Of course a government shouldn't bail out a company, unless it's a big bank with overpaid, greedy, ruthless bankers that need money to maintain their life styles.

But seriously, this is not the Finnish government's responsbility. Also, Nokia didn't ask for this, which is important to point out.

posted on 21 Jun 2012, 07:20 3

6. smartphone (Posts: 160; Member since: 21 Oct 2011)

Ok don't buy the stocks but sure they can help in many ways. They can provide low interest loan, increase some subsidy etc after all once Nokia puts Finland on many people maps.

posted on 21 Jun 2012, 07:41 4

7. mercorp (Posts: 1043; Member since: 28 Jan 2012)

because they love iphones and androids.
(Not trying to be biased)

posted on 21 Jun 2012, 10:14 3

9. Johnnokia (Posts: 1144; Member since: 27 May 2012)

Nokia = Finland's flagship.

The Finnish government should support Nokia like what the US government did with General Motors.

posted on 21 Jun 2012, 15:07 1

12. MorePhonesThanNeeded (Posts: 645; Member since: 23 Oct 2011)

Hmm, what the hell? No good news for Nokia, is this company imploding on itself? Soon it will be selling off it's assets. Then the vultures will start circling the carcass, how in the hell did the worlds largest phone maker lose it's way in such a short time? This is like some celebrity who hits the substance and lose it all in 5 years. Poor Nokia.

posted on 21 Jun 2012, 17:51

13. microsoftnokiawin (Posts: 1236; Member since: 30 Mar 2012)


posted on 21 Jun 2012, 18:19

14. RoundBallmer (banned) (Posts: 43; Member since: 19 Jun 2012)


posted on 22 Jun 2012, 00:07

15. 7thspaceman (Posts: 1583; Member since: 14 Feb 2011)

looks like Microsoft will have to loan Nokia billions to stay afloat or buy it out right they will have see which is cheaper for them to do and what will be the long run effects on Microsoft and it's OEM partners and the smart phone Market

posted on 22 Jun 2012, 08:32

16. Sangeet (Posts: 232; Member since: 21 Apr 2012)

With the new Windows Phone 8 Nokia is surely gonna win with flying colors as now Windows Phone 8 looks like somewhat a mature OS

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