ESPOO – Finnish telecommunications giant Nokia Oyj (HE:NOKIA) (LEI: 549300A0JPRWG1KI7U06) has confirmed the repurchase of its shares on Friday as part of a broader buyback program aimed at mitigating the dilutive impact of stock distributed to Infinera (NASDAQ:INFN) Corporation shareholders and related incentive plans. The company acquired a total of 872,093 shares at a weighted average price of €4.19 per share.
The buyback, conducted on the Helsinki Stock Exchange (XHEL), is part of a scheme announced on November 22, 2024, by Nokia's board. This program, compliant with the EU Market Abuse Regulation (MAR) and the European Commission's delegated regulation, began on November 25, 2024, and is set to conclude by December 31, 2025. Nokia's objective is to repurchase up to 150 million shares, with a maximum expenditure of €900 million.
As of the latest transaction, the total cost amounted to €3,657,384, bringing the company's holdings to 218,626,057 of its own shares. This move is in line with the authorization granted by the Nokia Annual General Meeting on April 3, 2024.
Nokia, recognized for its B2B technology and innovation leadership, continues to pioneer future network solutions that are intelligent and responsive. The company's competitive edge is grounded in its expertise across fixed, mobile, and cloud networking services. Nokia Bell Labs, renowned for its research and development, spearheads the creation of value through intellectual property rights. The company's network solutions, known for their performance and security standards, are trusted by service providers, enterprises, and partners worldwide.
This information is based on a press release statement from Nokia Oyj.
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