Nokia could face opposition from rivals vendors for Symbian stake

24 Feb 2004

Nokia’s attempted buyout of UK mobile software developer Symbian could yet be blocked by disgruntled minority shareholders. Earlier this month Nokia, which holds around one third of Symbian’s equity, announced its intention to purchase a further stake in the company owned by Psion, which would push its ownership up to around 63%. But Symbian’s minority shareholders, including Nokia’s rivals Ericsson, Samsung, Siemens and Panasonic, are opposed to the deal and are considering making use of their right to purchase Psion’s shares. If a Symbian shareholder decides to sell their stake, all other investors can buy a proportionate share to the stake they already hold, therefore there would be nothing that Nokia could do to stop its rivals stymying its attempts to take a majority stake in the UK company.

United Kingdom