ESPOO – Finnish telecommunications giant Nokia Oyj (HE:NOKIA) (LEI: 549300A0JPRWG1KI7U06) announced today that it has continued its share buyback program by purchasing 872,093 of its own shares at a weighted average price of €4.17 per share. The transaction took place on the Helsinki Stock Exchange (XHEL) and amounted to a total price of €3,636,192.
This latest buyback is part of a program initiated by Nokia's board on November 22, 2024, aimed at mitigating the dilutive effect of shares to be issued to Infinera (NASDAQ:INFN) Corporation's shareholders and certain share-based incentives for Infinera Corporation. The buyback program, which conforms to the Market Abuse Regulation (EU) 596/2014 (MAR), and the Commission Delegated Regulation (EU) 2016/1052, began on November 25, 2024, and is set to conclude by December 31, 2025. The objective is to acquire up to 150 million shares with a maximum total expenditure of €900 million.
Following the acquisitions on December 11, Nokia now holds 212,521,406 of its own shares. The company has been a leader in B2B technology and innovation, with a focus on developing future-oriented network solutions through its expertise in fixed, mobile, and cloud services networks. Nokia's position is further bolstered by its intellectual property rights and the research and development spearheaded by the award-winning Nokia Bell Labs.
Nokia's network solutions are designed to integrate seamlessly into various ecosystems, creating new commercialization and scaling opportunities for service providers, enterprises, and partners worldwide. The company is recognized for the performance, responsibility, and security standards of its networks.
The information provided in this article is based on a press release statement from Nokia Oyj.
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