Nokia closes its 25-year history with mobiles - The País.com (Spain)

Nokia, the former leader of the mobile phone market today is a crucial day. Stop being a phone maker after 25 years. The extraordinary general meeting of shareholders has approved with 99.7% of the votes the transfer of mobile division to Microsoft by 5,440 million euros.

Some 5,000 shareholders

have gathered on a sports complex very close to the center of Helsinki. Nokia currently has 3.745 million shares, the main shareholder are pension funds in the United States, Japan and Finland. For ordinary Finns, Nokia loss is something irreparable. Even today some 260,000 Finns hold shares in the company and local stakeholders were those who took the lead in the special meeting, although they soon siriviera to foreign investment funds.

was predictable that small shareholders focus fire on the former CEO, Canadian Stephen Elop, who headed the company from 2010 to 2013, during which time Nokia lost its supremacy in the market, from the 34% rule to a meager 3% market share. At the same time the value of the shares of the company fell from 12 euros less than 3 euros. The beginning of the end of Nokia began to choose the first CEO was not Finnish

Risto

Siilanmaa, temporary CEO, had to make a show of all his diplomacy to pull balls out: “It is impossible to know where we would be today if the past had been different to that was,” he said in response to the period of Elop.

As for the millionaire bonuses Elop, Siilanmaa added: “The wages of global companies are known. In our case, the company was not in his prime, so we needed an incentive program.” During the shareholders meeting, Elop was present at the first row but spoke not. The criticism was of such virulence that the chair of the meeting called to order, so that criticism is not personify.

“It is impossible to know where we would be today if the past had been different to that was,” he said in response Siilanmaa Elop period

Many small investors put into question the sale to Microsoft, but Siilasmaa concluded with a categorical statement: “Going forward, Nokia has chosen the best alternative.”

environment shareholder board dropped when it was learned that 99.8% of foreign shareholders had voted in favor of the sale. Therefore, the present one they had recourse to the tantrum.

Once approved

sale, Microsoft will have to wait a few months until the competition authorities in Europe and the U.S. to give the victorious good agreement.

Nokia

keeps the network division and communications equipment, Nokia Solutions and Network, the map service and location, Here, and the portfolio of patents and technological research, Advanced Technologies. Nokia lost last year and 3,100 million euros so far this 590 million.

September announcement date, until now, Nokia has unveiled its new strategy, yet the value of its shares on the Helsinki Stock Exchange has doubled from 2.96 euros per share up to 5.98. At the meeting, the finance chief has revealed that 1,650 million euros from the sale to Microsoft will be devoted to patents and research and 1.500 million for equipment and the rest, about half, to shareholders.

acting CEO told shareholders: “There was no other option, the price is the best we could hope for.” Is yet to appoint its new CEO.

So, the investment fund Third Point has launched an offensive in recent weeks and has gained impressive sums actions, according to the Finnish press. Purchases may amount to one billion euros.

Behind

Third Point is a character known in the investment world shooting, Daniel Loeb. It appears that Loeb has made a major package of actions that make it one of the decisive figures in the shareholders’ meeting that begins mid-afternoon. Loeb can gain a share of power and quite a lot in the immediate future of Nokia.

most talked operation in Loeb strategy is conducted with Yahoo. In 2011 Third Point bought a large block of shares of the Internet giant $ 13.50 worth of action. So Loeb joined the board of directors where output forced CEO Scott Thompson and Marissa Mayer also helped to take the leadership of the company. In August this year Loeb sold part of its package of shares to Yahoo. The company paid $ 29.11 per share, more than double in just one year.

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