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Psion-Nokia Deal for Symbian Not Done

Posted on Tuesday 24 February 2004

Reuters reported that Psion’s agreement to sell its shares in Symbian to Nokia, and thus give Nokia over 60% of the company’s shares, may be falling apart over the objections of the other shareholders. According to the story both Sony Ericsson and Siemens object to Nokia holding a controlling interest and may exercise their rights to acquire some of Psion’s shares in order to keep Nokia from holding a controlling interest. Nokia appears to be playing hardball with its partners, however:

“‘We’d like Symbian to have broad ownership,’ Nokia Chief Executive Jorma Ollila told Reuters in an interview. But he warned that it would cost money to buy Psion’s stake. ‘But they will need money, commitment other than verbal,’ Ollila said.”

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