Home > Mobile > Symbian Shareholders Block Nokia Deal

Symbian Shareholders Block Nokia Deal

Sony Ericsson, Siemens and Panasonic exercised their rights to buy a portion of the 31 percent stake that Symbian founder Psion put up for sale in February, and that Nokia offered to buy. The stake would have raised the Finnish phone maker’s holdings to over 63 percent.

The three companies, together with Nokia, all said they would take part in the latest funding round to bring in £50 million (about $92 million), most of which would be used for developing its operating system for smartphones as well as platforms for lower cost phones.

The extra cash would allow Symbian to increase its staff from the current 900 to nearly 1,200.

Read more at EETimes