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Nokia Offers $410 Million To Buy Up Partners’ Stakes In Symbian

Nokia (NYSE: NOK) wants it all. The Finnish handset maker said today that it has launched a cash offer to acquire all of the shares of Symbian that it does not already own, and not just Siemens’ 8.4 percent stake (as had been reported earlier). Nokia is offering 3.467 euros ($5.40) per share to acquire the remaining 52 percent of the company, a total of 264 million euros ($410 million). So far, Sony (NYSE: SNE) Ericsson (NSDQ: ERIC), Ericsson, Panasonic, and Siemens have all accepted the offer. Nokia also expects Samsung to accept the offer as well. More importantly, Nokia said it will make the software royalty-free—a move that will help it compete with the rise of open mobile initiatives from the likes of the LiMo Foundation and Google (NSDQ: GOOG). Full coverage at our sister site mocoNews.net.

Jun 24, 2008 6:05 AM ET

Posted In: Money, M&A & Venture Capital, Mergers & Acquisitions, Countries, Europe, nokia, symbian

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