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Technology Stocks : The New Qualcomm - a S&P500 company

QCOM 170.90

-1.3%

Nov 7 9:30 AM EST

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To: Ramsey Su who wrote ()	6/28/2000 9:07:00 AM
From: nbfm	of 13582

Nokia seeks to invest in Israeli start-ups TEL AVIV, June 28 (Reuters) - Nokia Corp chairman and CEO Jorma Ollila said on Wednesday the company was looking for investment opportunities in Israeli start-ups through its venture capital arm. ``We are currently looking at investment opportunities in start-ups also in Israel,'' Ollila told a news conference. ``Israel is a natural place (to invest in). We are working on a couple of opportunities.'' Ollila said Nokia's venture capital arm, established 18 months ago with offices in Silicon Valley and London, comprises $100 million. The fund is nearly fully invested in 20 start-ups around the world and the Finnish company is looking to expand the fund, he said. Ollila added that the fund generally invests in mobile communication technologies as well as services and applications. The fund takes a five to 20 percent stake in early stage companies. ``We are not a dominant partner but a significant one to have a board seat and an impact,'' he said. Ollila is launching the opening of Nokia Networks' office in Israel. Until now the company's activities in Israel have been limited to handsets. Ollila said Nokia will be a player in code division multiple access (CDMA) wireless technology even if it had a late entry into the field. He also said the company was working closely with Visa International and other credit card companies to develop a way to increase the security of e-commerce transactions via mobile phones. He said Nokia was working in cooperation with other mobile phone suppliers as well. ``It is crucial within the industry that you have common standards,'' he said. Ollila estimated that by 2003 there will be 600 million mobile phone users with Internet connected handsets. 05:19 06-28-00 Copyright 2000 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. All active hyperlinks have been inserted by AOL.

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