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ESPOO, Finland - Nokia (HE:NOKIA) Corporation (NYSE:NOK) has completed a repurchase of its own shares on Monday, as part of a program to mitigate the dilutive effect of issuing new shares to Infinera (NASDAQ:INFN) Corporation shareholders. The Finnish telecommunications company acquired 1,334,463 shares at an average price of €4.74 per share, totaling approximately €6.3 million.
This transaction is in line with the share buyback program announced on November 22, 2024, which was initiated by Nokia’s Board of Directors following the distribution of new Nokia shares to Infinera Corporation shareholders. The program aims to repurchase up to 150 million shares for a maximum aggregate purchase price of €900 million. The buyback plan, authorized by Nokia’s Annual General Meeting on April 3, 2024, began on November 25, 2024, and is set to conclude by December 31, 2025.
The repurchases are conducted in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, ensuring regulatory adherence. After the latest transactions, Nokia holds a total of 246,429,217 treasury shares.
Nokia, known for its contributions to the telecommunications sector and for its research arm, Nokia Bell Labs, continues to focus on developing high-performance networks and fostering technological innovation. The company’s efforts are aimed at providing secure, reliable, and sustainable network solutions for service providers, enterprises, and partners globally.
The information regarding the share repurchase is based on a press release statement from Nokia Corporation.
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