Symbian Partners Prevent Nokia Majority
Jul 7, 2004, 10:10 AM by (staff)
Symbian today announced a new agreement regarding the ownership and governance of the company. The deal puts Nokia's stake at 47.9 percent. In February, Nokia announced the purchase of Psion's shares, which would have upped Nokia's stake to 63.3 percent. To prevent Nokia from gaining majority ownership, Sony Ericsson, Panasonic and Siemens have agreed to invest a total of $172.5 million to increase their respective shares. Sony Ericsson made the largest new investment - $104.9 million - to increase its share from 1.5% to 13.1%. All four companies produce smartphones based on Symbian's software.
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