Nokia Buys The Rest of Symbian
24 Jun, 2008, 3:32 pm IST | by
tech2 News Staff
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Nokia today announced it has launched a cash offer to acquire all of the shares of Symbian Limited that Nokia does not already own, at a price of EUR 3.647 per share. The net cash outlay from Nokia to purchase the approximately 52% of Symbian Limited shares it does not already own will be approximately EUR 264 million. Nokia has received undertakings from Sony Ericsson, Telefonaktiebolaget LM Ericsson (publ), Panasonic and Siemens to accept the offer, representing approximately 91% of the Symbian shares subject to the offer. Nokia also expects Samsung to accept the offer. The acquisition is a step in the establishment of the Symbian Foundation, announced today by Nokia, together with AT&T, LG Electronics, Motorola, NTT DOCOMO, Samsung, Sony Ericsson, STMicroelectronics, Texas Instruments and Vodafone. Click here for more info. |
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