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Technology Stocks : Nokia (NOK)

NOK 6.070

-1.5%

Dec 5 9:30 AM EST

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To: Nils Mork-Ulnes who started this subject	11/28/2001 11:54:48 AM
From: Ruffian	Read Replies (2) of 34857

Nokia may move HQ out of Finland Speaking in an interview on the Finnish YLE television channel, Nokia's Chairman Jorma Ollila has suggested that Nokia could move its headquarters out of its native Finland to avoid the country's high taxes. In the television documentary, titled "Nokia - too large for Finland", Ollila said that 40% of the company staff are based in Finland, but sales in the country are only just over 1%, leading to a situation that is "unbearable in the long run". He said that Nokia would give the government five years to consider the taxation situation before deciding if it will move its headquarters. That would place the decision about the same time that the 3G networks are expected to start picking up mass customers and when Nokia can expect an increase in infrastructure and handset sales to cope - adding pressure to keep the company in Finland. Presumably there will be a bidding war between the major financial centers in Europe as the deadline approaches if it looks likely that Nokia will move out of the country, in order to get Nokia to move to their particular city. cellular-news.com

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