Finland’s Solidium quietly raising large stake in Nokia by $30M in past two months, now exceeding 5.2%.

Solidium is more and more bullish on $NOK for unclear reasons. The latest update on November 25, 2020 shows Solidium holds 292M shares (5.2%) at an average of 3,42 euros for a total of 997M euros. It held 283M shares (5.01%) on September 3, 2020. Prior to that, it held only 3.7% in January 2020.

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The story made multiple outlets when Solidium crossed the 5% threshold to 5.01% in September, sparking speculation of Finland trying to defend against US interest. At that time, Finland said they were done buying, “From a European perspective, it’s important that Europe has 5G technology. But Europe isn’t an entity who could buy shares,” Makinen said. “For the Finnish state, it boils down to this: it’s one of the most — if not the most — important company in Finland and keeping it Finnish has value to us.”

Solidium won’t disclose plans of further purchases, and Makinen said the 5% it now has “feels like a suitable amount.”

www.bloomberg.com/news/articles/2020-09-08/finland-is-building-its-nokia-stake-in-response-to-u-s-interest-ketqcpo7 Solidium holdings

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