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ESPOO - Nokia Oyj (HEL:HE:NOKIA), the Finnish telecommunications company, has continued its share buyback program, acquiring 3,642,769 of its own shares on Monday. The average weighted price per share was €4.70, amounting to a total cost of €17,116,279 for the day’s transactions.
The buyback initiative, which commenced on November 25, 2024, is part of a broader strategy to mitigate the dilutive impact of shares issued to Infinera (NASDAQ:INFN) Corporation shareholders and certain stock-based incentives related to Nokia’s acquisition of Infinera. The program is being conducted in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052, and the authorization granted by Nokia’s Annual General Meeting on April 3, 2024.
Nokia’s buyback program aims to repurchase up to 150 million shares with a maximum expenditure of €900 million, to be completed by December 31, 2025. Following the latest transactions, Nokia now holds 146,047,975 of its own shares.
This move is part of Nokia’s long-standing commitment to innovation and market leadership in fixed, mobile, and cloud network solutions. With a history of over 100 years, the company has consistently leveraged its intellectual property and research and development under the renowned Nokia Bell Labs.
The buyback program reflects Nokia’s confidence in its business strategy and commitment to delivering value to its shareholders. The company continues to focus on integrating its network solutions into diverse ecosystems, enabling commercialization and scalability.
Investors and partners globally rely on Nokia for high-performance, responsible, and secure networking standards. The company collaborates with partners worldwide to develop digital services and applications for the future.
The information regarding Nokia’s share buyback is based on a press release statement issued by the company.
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