Finland PM: Nokia Is Not Our Business, Government Won’t Buy Nokia Shares

Posted on Jun 20 2012 - 5:58pm by Editorial Staff

Hitting Nokia more hardly, Finland Prime Minister Jyrki Katainen stated clearly that the Finnish government will not consider purchasing the mobile company shares, reports Reuters. Even Moody’s Investors Service last week downgraded the long-term senior unsecured ratings of Nokia to Ba1 from Baa3 and its short-term senior unsecured ratings to Not-Prime from Prime-3 after the Finnish mobile giant cut 10,000 more jobs and now this comes in front of the company quashing hopes the government would help support the company’s plunging stock.

“This is not our business. We are developing Finland into a country where companies can do well, but this is not the way of support along which the government will go,” Katainen said on a visit to Salo in southern Finland. There has been huge talk going on in Finland currently over the thing that whether the government will support Nokia by investing into in it or not.

Photo Credit: roland via photopin cc

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