Seeking Alpha

Microsoft buying Nokia's Devices & Services unit, licensing IP for $7.17B

  • Microsoft (MSFT) is paying €3.79B for Nokia's (NOK) Devices & Services ops, and €1.65B to obtain a 10-year non-exclusive license to Nokia's patents. The deal is expected to close in Q1 2014.
  • 32K Nokia workers will be joining Microsoft. Stephen Elop and other senior Nokia execs (Jo Harlow, Juha Putkiranta, Timo Toikkanen, and Chris Weber) are expected to be among them. Elop has already been viewed by many as a top candidate to replace Steve Ballmer as Microsoft's CEO.
  • Elop is resigning as Nokia's CEO, and from the company's board, to avoid signs of conflicts of interest. He's now head of Devices & Services. Chairman Risto Siilasmaa has been named interim CEO.
  • Microsoft is also licensing Nokia's Here mapping platform, and providing Nokia with €1.5B in new financing. Nokia will now focus its efforts on NSN (telecom equipment), Here, and IP licensing; with no phones to obtain licenses for, Nokia now has more leverage in patent negotiations.
  • Nokia will "maintain and own" the Nokia brand. Microsoft has obtained a license to use the Nokia brand with Series 30 and Series 40 phones, but apparently not Lumia phones (which presumably will be Microsoft-branded). Nokia won't be able to use its brand "on Nokia's own mobile devices" until the end of 2015.
  • Nokia will hold a shareholder's meeting on Nov. 19 to vote on the sale. The company expects the deal to be "significantly accretive to earnings." The deal has a $750M termination fee.
  • PRs: Microsoft, Nokia
  • Previous: Nokia, Microsoft held advanced talks about phone unit sale
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Comments (153)
  • LYogi
    , contributor
    Comments (2553) | Send Message
     
    Well that is one less suitor for BBRY
    2 Sep 2013, 11:53 PM Reply Like
  • KIA Investment Research
    , contributor
    Comments (11202) | Send Message
     
    "Well that is one less suitor for BBRY"

     

    And one more uber powerful enemy
    3 Sep 2013, 12:14 AM Reply Like
  • Dividend Pros
    , contributor
    Comments (154) | Send Message
     
    Well Stephen Elop is definitely coming back, but in a different role from what I predicted here http://seekingalpha.co...
    3 Sep 2013, 01:47 AM Reply Like
  • LYogi
    , contributor
    Comments (2553) | Send Message
     
    This could be the catalyst for Samsung to take a flier on BBRY.
    3 Sep 2013, 02:17 AM Reply Like
  • HarryPothead
    , contributor
    Comments (259) | Send Message
     
    Why would Samsung bother with BBRY? lol
    4 Sep 2013, 09:32 AM Reply Like
  • LYogi
    , contributor
    Comments (2553) | Send Message
     
    To free up their reliance on Google and crack the enterprise market
    4 Sep 2013, 12:30 PM Reply Like
  • silverscreen
    , contributor
    Comments (214) | Send Message
     
    Good deal for both parties.
    2 Sep 2013, 11:56 PM Reply Like
  • Seppo Sahrakorpi
    , contributor
    Comments (2063) | Send Message
     
    $7.2B cash, i.e. ~$1.92 per share.

     

    Can not wait to see SA writers', and markets' assessment of the value of the New Nokia, including the cash injection. Anyways, happy to be fully loaded, up to my neck on $NOK on this Labor Day evening :) ...
    2 Sep 2013, 11:57 PM Reply Like
  • Justin Jaynes
    , contributor
    Comments (3151) | Send Message
     
    @Sepo - hope it turns out to be a nice hit for you!
    3 Sep 2013, 12:04 AM Reply Like
  • Dantes_Will
    , contributor
    Comments (391) | Send Message
     
    This is just the floor.

     

    No way shareholders will let the handset division plus patents go so cheaply. I for one will vote it down at this price.

     

    As soon as another suitor makes a bid, off we go...

     

    Competitors to Microsoft will not let them steal this critical business from Nokia so cheaply. They'll drive up the price and make Ballmer pay through the nose.
    3 Sep 2013, 02:32 AM Reply Like
  • Leont68
    , contributor
    Comments (1384) | Send Message
     
    yes Seppo, it feels good doesn't it to be right :P
    3 Sep 2013, 02:36 AM Reply Like
  • sami1971
    , contributor
    Comments (24) | Send Message
     
    Price does not include patents, just non-exclusive licensing. This means Nokia will be able to collect patent fees from Apple, Samsung & other Android makers, even BBRY if they somehow survive.
    3 Sep 2013, 02:53 AM Reply Like
  • Timothy Bryan
    , contributor
    Comments (921) | Send Message
     
    Haha,
    Up more than 1 100 K already!
    3 Sep 2013, 03:12 AM Reply Like
  • Abu Bakr Hussain
    , contributor
    Comments (599) | Send Message
     
    Well done Diablo =).. yacht money? ;)
    3 Sep 2013, 03:15 AM Reply Like
  • Leont68
    , contributor
    Comments (1384) | Send Message
     
    nice for u diablo...
    3 Sep 2013, 03:17 AM Reply Like
  • Timothy Bryan
    , contributor
    Comments (921) | Send Message
     
    Abu,

     

    I was looking for more down the road, but like yourself it is good to be right :-)
    3 Sep 2013, 03:21 AM Reply Like
  • Leont68
    , contributor
    Comments (1384) | Send Message
     
    looking for even more diablo? dont get to greedy lols
    3 Sep 2013, 03:23 AM Reply Like
  • Timothy Bryan
    , contributor
    Comments (921) | Send Message
     
    Hi Leon,

     

    It is nice to be right, and I wish all my fellow longs prosperity on this stock :-)
    3 Sep 2013, 03:25 AM Reply Like
  • Leont68
    , contributor
    Comments (1384) | Send Message
     
    @Diablo, we have been telling everyone to buy into nokia since last year. I remember someone called Deepvaluelover saying nokia was going to zero ( bankrupt in my book) ...

     

    see what happened now.

     

    While this scenario is not what I had hoped for, to me profit is ultimately the best way to measure if someone was right or wrong about a stock
    3 Sep 2013, 03:28 AM Reply Like
  • Timothy Bryan
    , contributor
    Comments (921) | Send Message
     
    Leon,
    well said...
    3 Sep 2013, 03:35 AM Reply Like
  • Huda
    , contributor
    Comments (13) | Send Message
     
    Added extra 6x1K share last week :-) What a timing.
    3 Sep 2013, 05:19 AM Reply Like
  • Seppo Sahrakorpi
    , contributor
    Comments (2063) | Send Message
     
    @Leon, Diablo, Abu all fellow longs...indeed:

     

    http://bit.ly/15oFbyo
    3 Sep 2013, 05:43 AM Reply Like
  • Leont68
    , contributor
    Comments (1384) | Send Message
     
    Yes, and our post do all the talking for us :)
    3 Sep 2013, 07:21 AM Reply Like
  • Huda
    , contributor
    Comments (13) | Send Message
     
    Correction: 60x1K shares. Now i can buy my first car :)
    3 Sep 2013, 10:40 AM Reply Like
  • HarryPothead
    , contributor
    Comments (259) | Send Message
     
    No way. The deal will go through.
    4 Sep 2013, 09:33 AM Reply Like
  • HarryPothead
    , contributor
    Comments (259) | Send Message
     
    Deepvaluelover was always wrong. lol
    4 Sep 2013, 09:34 AM Reply Like
  • KIA Investment Research
    , contributor
    Comments (11202) | Send Message
     
    Yep fully loaded here too.
    It will be interesting to see how this effects the stock tomorrow :-D
    3 Sep 2013, 12:03 AM Reply Like
  • KIA Investment Research
    , contributor
    Comments (11202) | Send Message
     
    Thank you Nokia! Sold enough this morning to put one of my Kids through Santa Clara University.

     

    Keeping the rest until the dust settles.

     

    3 Sep 2013, 06:43 PM Reply Like
  • gwynfryn
    , contributor
    Comments (5057) | Send Message
     
    At first glance, I thought it was Santa Claus University!
    4 Sep 2013, 08:51 AM Reply Like
  • alphaRAJU
    , contributor
    Comments (457) | Send Message
     
    I'm nervous. Seppo do shareholders get anything?
    3 Sep 2013, 12:04 AM Reply Like
  • Seppo Sahrakorpi
    , contributor
    Comments (2063) | Send Message
     
    There will be more details later this month, leading to the Nov 19th Extraordinary Shareholders Meeting...
    3 Sep 2013, 12:08 AM Reply Like
  • zeeman1
    , contributor
    Comments (93) | Send Message
     
    Raju, that will be upto Mr Market!
    3 Sep 2013, 12:11 AM Reply Like
  • asifruman
    , contributor
    Comments (75) | Send Message
     
    Im as much loaded with NOK that if if it inflates my a$$ busts with joy but if it "busts" my a$$ busts with tension ......! seems to me a good news, however
    i wont recommend that Nokia shd "sell itself"!!!
    3 Sep 2013, 12:06 AM Reply Like
  • Tales From The Future
    , contributor
    Comments (5927) | Send Message
     
    I predicted this move by MSFT for months, long before it was a rumor in the WSJ, read my comments on NOK :)
    3 Sep 2013, 12:06 AM Reply Like
  • HarryPothead
    , contributor
    Comments (259) | Send Message
     
    Your parade is on Friday...
    4 Sep 2013, 09:35 AM Reply Like
  • zeeman1
    , contributor
    Comments (93) | Send Message
     
    Am surprised the MSFT didnt buy Here but bought feature phones division
    3 Sep 2013, 12:10 AM Reply Like
  • silverscreen
    , contributor
    Comments (214) | Send Message
     
    They probably can't agree on the price. The Feature phone is probably a condition that NOK imposes on MSFT. I mean seriously what would NOK do with the feature phones?
    3 Sep 2013, 12:35 AM Reply Like
  • Tales From The Future
    , contributor
    Comments (5927) | Send Message
     
    But what will MSFT do with feature phones?

     

    I see massive bloodletting and many people losing their jobs in 2014/15, unfortunately...MSFT is only interested in smartphones over time imho.
    3 Sep 2013, 12:43 AM Reply Like
  • zeeman1
    , contributor
    Comments (93) | Send Message
     
    They could have bought Smartphone div, Here and other services. Leave Feature phones for NOK.. I believe there lot of manufacturing overlap between Smartphone and dumb phones in nokia..
    3 Sep 2013, 12:46 AM Reply Like
  • silverscreen
    , contributor
    Comments (214) | Send Message
     
    tftf, you are absolutely correct. The feature phones are probably just something MSFT wants to keep around just to get the mind share of the users while they are preparing an ultra-cheap Windows phone. I predict MSFT will aggressively cut prices now to gain shares in the market place, especially in the enterprise space. I don't care what NOK PPS does tomorrow, I'm shorting BBRY.
    3 Sep 2013, 12:49 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    Very very expensive to fire people in Finland.
    3 Sep 2013, 12:57 AM Reply Like
  • silverscreen
    , contributor
    Comments (214) | Send Message
     
    There are not that many in Finland anymore. The people that are still there are R & D, etc. which they want to keep short / mid-term anyway.
    3 Sep 2013, 12:58 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    Why would MSFT aggresively cut prices to gain market share in the smartphone market?

     

    That is not what they did with their Surface tablet - they charged a premium and although it has been a disaster they still continue to charge a premium.
    3 Sep 2013, 12:59 AM Reply Like
  • silverscreen
    , contributor
    Comments (214) | Send Message
     
    The tricky part about the Surface is MSFT directly competes against their OEM, they can't cut prices aggressively. Those OEM's also produce the PC, the servers, the laptops, etc. - MSFT bread-and-butter. With the phone, the situation is completely different. I'm quite sure no OEM is making any money with the Windows phone. MSFT is going alone in this battle.
    3 Sep 2013, 01:05 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    Good point.
    3 Sep 2013, 01:10 AM Reply Like
  • saintforlife
    , contributor
    Comment (1) | Send Message
     
    A driving force behind the sale seems to be Nokia's low-end Asha brand, which Microsoft has acquired outright. Asha gives Microsoft a far larger footprint for Windows Phone, and access to millions of customers in developing countries that it plans to use as an "on-ramp to Windows Phone."

     

    http://bit.ly/137F4th
    3 Sep 2013, 02:26 AM Reply Like
  • DownTwist
    , contributor
    Comments (90) | Send Message
     
    Not really, not as expensive as Sweden or Germany.
    3 Sep 2013, 05:13 AM Reply Like
  • mKiwi
    , contributor
    Comments (865) | Send Message
     
    Holy Guacamole Batman!

     

    I'm kind of loaded too.

     

    Well I guess it will be a nervous wait to see how the shares react.

     

    Does this mean Nokia can start selling phones in 2016?
    3 Sep 2013, 12:11 AM Reply Like
  • gwynfryn
    , contributor
    Comments (5057) | Send Message
     
    I'm surprised they didn't hold on to the Asha line; of what interest could it be to MSFT? I'm also puzzled about Nokia keeping hold of the brand name; that's going to be confusing...
    3 Sep 2013, 08:51 AM Reply Like
  • vismadeb
    , contributor
    Comments (63) | Send Message
     
    the devices division wasnt priced into the stock - so the $1.92 top-added to the $4/sh price and we got some bumper returns people - happy trading :)
    3 Sep 2013, 12:12 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    Reading the above surely it is now time to sell NOK on any bounce in the share price?

     

    Once the handset business is owned by MSFT NOK is basically left with its network business, that no one wants, and the Patents. In time those Patents will lose value as they become outdated.

     

    How wll they develop new smartphone Patents with no smartpjone business?

     

    I don't own NOK but I would be looking to get out ASAP.
    3 Sep 2013, 12:19 AM Reply Like
  • Tales From The Future
    , contributor
    Comments (5927) | Send Message
     
    And maps also... HERE division.

     

    But I agree, it will be hard to put a value on these three businesses longer term.
    3 Sep 2013, 12:41 AM Reply Like
  • mr wonder
    , contributor
    Comments (561) | Send Message
     
    For the last two years Wall Street was valuing D&S at zero.
    NSN, its patents and its cash, were mainly thriving the stock.
    Now the rumor of Microsoft buying a part of Nokia became true.

     

    In every way this purchase agreement is increasing the value of Nokia and the value of its share price.Now it is up to the shareholders (everyone is invited) whether they agree with the price or not.

     

    This is a great news for Nokia longs!
    3 Sep 2013, 02:11 AM Reply Like
  • lzv1tn11
    , contributor
    Comments (128) | Send Message
     
    I am loaded with NOK and have to take my wife to Oncologist appointment for 9:30 am. Mr. Market opening time. Anyone out there with a crystal ball???? Stop Loss is my only option....lets hope it does not plunge due to stock holders lack of understanding. My intentions were to sell Tues morning and move on,,,,,,,,,,sh_t.
    1bulletbarney
    3 Sep 2013, 12:20 AM Reply Like
  • Seppo Sahrakorpi
    , contributor
    Comments (2063) | Send Message
     
    The crystal ball is to follow the stock in Helsinki ($NOK1V). It starts trading 3AM EST if I remember right. Something like 85% of all Nokia shares are in fact traded in Helsinki and only 15% are as ADRs in NYSE:

     

    http://bit.ly/15u7P7n
    3 Sep 2013, 12:25 AM Reply Like
  • asifruman
    , contributor
    Comments (75) | Send Message
     
    i hope things go well for you!
    3 Sep 2013, 12:27 AM Reply Like
  • 808Amigo
    , contributor
    Comments (437) | Send Message
     
    Thanks for the timely link Seppo!
    3 Sep 2013, 05:35 AM Reply Like
  • lzv1tn11
    , contributor
    Comments (128) | Send Message
     
    Asifruman, thank you, so far so good, she can take radiation in pill form after the M. and nothing else on the screen. Problem is she does not want to take the meds, terrible side effects.
    Regards........Nokia going up in Helsinki.....Good sign.
    1bulletbarney
    3 Sep 2013, 05:43 AM Reply Like
  • only11toes
    , contributor
    Comments (27) | Send Message
     
    does anyone really think that recent financing for nsn purchase would have been approved without the lenders knowledge that elop was resigning and heading back to msft and the price that msft would be offering nok ?
    if the lenders were satisfied, i'm feeling pretty good right now.
    don't believe the posts about.... $7.2B cash equals $1.92 per share.
    elop is already gone and msft must make this deal fly!
    do you think tim cook is awake? talk about a possible fly in the ointment. maybe they see a chance to inflict pain on Ballmer's legacy. sleep well, let the big boys sort it out.
    3 Sep 2013, 12:23 AM Reply Like
  • fafatooey
    , contributor
    Comments (414) | Send Message
     
    Will be trading at $5 mid-morning. My guess.
    3 Sep 2013, 12:29 AM Reply Like
  • silverscreen
    , contributor
    Comments (214) | Send Message
     
    I'll go short at that level. The deal provides breathing room for NOK short term. Mid-term, they have no catalyst for growth. Do you trust the board with that extra cash? What would they do with it?
    3 Sep 2013, 12:41 AM Reply Like
  • Stock Market Mike
    , contributor
    Comments (2636) | Send Message
     
    Indeed. I'm concerned about their long term growth prospects without that division. I do believe NSN is solid, but networking is a low margin business and doesn't grow to the sky.

     

    I was hopeful that by 2015 all of NOK's divisions would be contributing hundreds of millions to a couple billion. Now it's just going to come down to NSN and patents. What kind of share price does that justify?

     

    Well, if NSN provides $0.50 in profit, then it justifies at least $5. Might want to wait until a bit higher price than $5 to short. 2014 is going to be a good year for networking... gah. I need to crunch numbers, and fast!
    3 Sep 2013, 01:40 AM Reply Like
  • gwynfryn
    , contributor
    Comments (5057) | Send Message
     
    Will there be any left when they've paid themselves the usual bonuses?
    3 Sep 2013, 08:54 AM Reply Like
  • lzv1tn11
    , contributor
    Comments (128) | Send Message
     
    Many Thanks Seppo2. Never crossed my mind. I am up before 6am so will be following.
    1bulletbarney
    3 Sep 2013, 12:29 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    Best hope for NOK share price increase is that some other company sees big money to be made accquiring NOK and turning it into an Android company.

     

    Perhaps Vodafone will spend some of its cash or, more likely, some venture capital fund will make a move. Longterm, I don't see how this - MSFT - is good for NOK's share price.

     

    Might see a bounce in the stock before a decline.
    3 Sep 2013, 12:31 AM Reply Like
  • vireoman
    , contributor
    Comments (1104) | Send Message
     
    toss, feel free to comment on stocks that you a) own, and b) know something about. Then you might be worth listening to. Currently, NOK longs want to enjoy the moment.
    3 Sep 2013, 12:43 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    If you can't look realistically at this then you are not being objective. Your shares are in NOK but what is left of NOK once it sells it core business?

     

    I will say it again - what would happen to Apple if it sold its smartphone business? Or Ford if they sold all their car making plants and business? Or if MacDs said that it was selling making burgers to KFC?

     

    This might be a great day to take a BIG profit on NOK and get the heck out of the stock before a decline.
    3 Sep 2013, 12:55 AM Reply Like
  • sterlman1
    , contributor
    Comments (7) | Send Message
     
    Maybe a bidding war?
    3 Sep 2013, 02:46 AM Reply Like
  • Seppo Sahrakorpi
    , contributor
    Comments (2063) | Send Message
     
    FYI...

     

    Nokia's short interest as of 08/15/2013:

     

    In NYSE 213M shares (5.69% of the float), and in Helsinki at least 311M shares (8.31% of the float):
    http://bit.ly/MSyJuQ
    http://bit.ly/SiN8P7

     

    The total short interest at mid-August was thus at least 524M shares (14.00% of the float).

     

    Additionally, the Helsinki short interest has not changed since 08/14, i.e. still at 311M shares.

     

    http://bit.ly/12Hz36k
    3 Sep 2013, 12:39 AM Reply Like
  • Sunnyinoz
    , contributor
    Comments (18) | Send Message
     
    Do you think we will see a squeeze today ?? The short-sellers / media has got 8 hours to spin it to a non-event or negative events.
    3 Sep 2013, 01:22 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    8 hours? European markets - where 85% of NOK stock is traded -open in 80 minutes.
    3 Sep 2013, 01:42 AM Reply Like
  • Delphinus
    , contributor
    Comments (136) | Send Message
     
    Some seem to be worrried about the effect of the deal on the Nokia stock. I don't share those worries. The market knows that Nokia shareholders will never say yes to a deal which doesn't bring them some advantages.
    3 Sep 2013, 12:42 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    If it was announced that Apple was selling its smartphone business would the price of Apple soar or collapse?

     

    Apple would still have its PC/laptop business.

     

    I say it again, NOK is going to be left with a network business that it has failed to sell for several years and its Patents which, in time, will become worth less and less.
    3 Sep 2013, 12:45 AM Reply Like
  • myopetz
    , contributor
    Comments (30) | Send Message
     
    toss, feel free to comment on NOK:-)
    3 Sep 2013, 02:26 AM Reply Like
  • shangjeen
    , contributor
    Comments (337) | Send Message
     
    Any likelihood of activist shareholders driving up the price significantly (ala Dell)?

     

    I say, yes - a high likelihood indeed.
    3 Sep 2013, 12:47 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    UK financial media reporting that Nok has been sold cheap but that it is a shadow of its former self making phones that no one wants.

     

    Best hope for a NOK share price increase is some venture fund wants to buy it and turn it into an Android company. Or they could claim to want to do that just to force MSFT to pay more for NOK and then off load any NOK shares at a higher price.

     

    Or there could be some legal challenge by share holders who might argue that Elop was put in place to drive the stock down so that MSFT could buy it cheap - European courts tend not to like MSFT IIRC.

     

    A European Union legal challenge could stop a sale to MSFT and then NOK would be well and truly screwed.
    3 Sep 2013, 01:08 AM Reply Like
  • shangjeen
    , contributor
    Comments (337) | Send Message
     
    Shareholders have to vote on the sale as well, tawse.

     

    Just like Dell, they can block the sale with sufficient votes if they feel the price is not right. People like Icahn specialize in issues like this.
    3 Sep 2013, 01:13 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    Yep - and there are serious investors who have lost seriously big money since Elop took over. I believe some of them are already in a legal battle about this.

     

    I don't know who the big holders of NOK are but this will be decided by the likes of pension and sovereign state funds first and perhaps by the courts secondly.

     

    The problem is that if you block this deal then where can NOK go? MSFT would probably go and make its own phones from scratch - which will take time and money - and NOK would be left to change to Android. If the deal is blocked then NOK could collapse.
    3 Sep 2013, 01:24 AM Reply Like
  • Stock Market Mike
    , contributor
    Comments (2636) | Send Message
     
    If I'm reading this correctly, if the deal is blocked NOK gets $750m USD in cash (no strings attached), and they have access to $1.5b EUR (convertible bonds) regardless of whether it closes or not? That's a $2.75b USD cash infusion regardless of whether the deal goes through.
    3 Sep 2013, 01:46 AM Reply Like
  • flybywire54
    , contributor
    Comments (726) | Send Message
     
    Tawse

     

    "A European Union legal challenge could stop a sale to MSFT and then NOK would be well and truly screwed. "

     

    You forget that MFST has nowhere to turn too . Without Nokia , WP8 is screwed .
    3 Sep 2013, 04:13 AM Reply Like
  • mKiwi
    , contributor
    Comments (865) | Send Message
     
    I won't to hear from Andreas.

     

    Well is it good news or bad?
    3 Sep 2013, 12:53 AM Reply Like
  • Andreas Hopf
    , contributor
    Comments (11028) | Send Message
     
    Good for us traders. I re-entered last Friday @ €2,93 hoping to sell into earnings or the next device launch, where Nokia usually tanks.

     

    NASDAQ reaction (~35% up before the bell at the moment) could still push the price a bit higher in Europe this afternoon.

     

    As for Nokia, I am very sad to see it being gobbled up and then mutilated by Microsoft, facilitated by their planted mole Stephen Elop. Top Nokia talent will now head for the exit before Microsoft's stack-ranking idiocy gets the better of them. European and Asian consumers who still liked the Nokia brand a lot will stop buying Lumia devices. And - HEREs, NSNs and other issues will not just go away as if by magic today. A cash infusion by selling Devices and Services does not mean the remaining Nokia carcass will succeed, having to compete with Google Maps on the one hand and Ericsson, Alcatel-Lucent and Huawei on the other.

     

    I would have liked to see Nokia pulling the turnaround off. It was not meant to be. What a shame.
    3 Sep 2013, 04:44 AM Reply Like
  • Leont68
    , contributor
    Comments (1384) | Send Message
     
    cheers to that system!
    3 Sep 2013, 04:44 AM Reply Like
  • oneinfiniteloop
    , contributor
    Comments (663) | Send Message
     
    Essentially $MSFT bought their entire D&S business at $1 per outstanding shares (there are a total of $3.74 Billion shares outstanding). For next 10 years, approximately 5 cents/year of Friday's stock price can be attributed toward $165 million dollar income for the next 10 years. Not sure how the $1.5 billion for licensing Here are going to be accounted for. If this is an upfront one time payment then it accounts for approximately 35 cents on Friday's stock price.

     

    If the above simplistic assumption is valid then $2.50 of remaining Friday's closing stock price can now be attributed for patents and NSN.

     

    Now the following questions remains:
    - Who is responsible for the existing debt load and other liabilities

     

    Nokia stock price may go higher if the market values NSN and patents (minus the existing debt load) together to be north of $2.50.
    3 Sep 2013, 01:08 AM Reply Like
  • fdmicmul
    , contributor
    Comments (15) | Send Message
     
    The non exclusive use of patents is interesting. Now that Nokia is out of the phone business, how long will it take to licence their camera tech to Samsung and the other android manufacturers? I could see a lot of companies in the high end phone business wanting to use that, and take away a differentiating factor away from the Microsoft lumias. Big revenue stream for the new Nokia as well, they would be crazy not to licence it..
    3 Sep 2013, 01:13 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    Good thoughts.

     

    Sadly, until Elop arrived it appears that NOK were rubbish at licencing their patents so now that he is out of the door????
    3 Sep 2013, 01:29 AM Reply Like
  • gwynfryn
    , contributor
    Comments (5057) | Send Message
     
    I'd be surprised if MSFT didn't put in a clause (or three) to prevent them licensing the camera technology, as it's a major competitive advantage for the phones they've just bought!
    3 Sep 2013, 08:58 AM Reply Like
  • Timothy Bryan
    , contributor
    Comments (921) | Send Message
     
    Even now the idiot bears speak. This will trade up at least 2-4 dollars in the morning, and they will complain Nokia is selling itself cheap...
    3 Sep 2013, 01:14 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    50% to 100% profit in 2 trading days? Do you not think then it would be wise to take the profit or do you make 50% gains in a couple of days regularly?

     

    Best of luck.
    3 Sep 2013, 01:34 AM Reply Like
  • Timothy Bryan
    , contributor
    Comments (921) | Send Message
     
    taw,
    This is hard to say. It would seem there might be someone else that would be interested at a better price. I would think a higher price may be in order.

     

    The good thing is NSN and patents will now be 1.5 billion a year in profit, which could be very good for the new Nokia.
    3 Sep 2013, 01:36 AM Reply Like
  • wwu124
    , contributor
    Comments (262) | Send Message
     
    Any idea what will be the opening/closing price on Tuesday? What should I do now with my NOK position? I had a 45% gain by the close of trading on Friday. Not that I am not happy, I was hoping for Nokia to turn around by itself.
    3 Sep 2013, 01:16 AM Reply Like
  • flybywire54
    , contributor
    Comments (726) | Send Message
     
    So was I . Very disappointed
    3 Sep 2013, 04:07 AM Reply Like
  • gwynfryn
    , contributor
    Comments (5057) | Send Message
     
    If I was in profit, I'd take it, ww, as this situation is just too unpredictable.
    3 Sep 2013, 09:00 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    If I was an American holding NOK I would up wide awake in just under 2 hours to watch what happens to NOK in the European markets.

     

    A lovely 25% to perhaps even 50% rise would be a sell the news opportunity IMPO.

     

    Heck, the stock may even double but I doubt it but you never know.

     

    Or it could open, have a nice bounce and head back down whilst most of my American friends are still asleep.

     

    This is not financial advice. DYOR.
    3 Sep 2013, 01:18 AM Reply Like
  • civ-e
    , contributor
    Comments (449) | Send Message
     
    sincere question: is it useful for the regular investor to stay up late to watch the europe action and then wake up very early in the morning (if they can fall asleep after getting all hyped up or anxious about the stock), and in the process losing a night's of good sleep. are they going to somehow benefit by being aware of europe's action, by being "ahead of the pack" at 6:30/9:30 on the NYSE?
    3 Sep 2013, 02:01 AM Reply Like
  • Andreas Hopf
    , contributor
    Comments (11028) | Send Message
     
    Rather than helping Nokia to remain independent by finalising WP and addressing the ecosystem issues, Microsoft intends to butcher the fillet out of Nokia for only 2xQ2 net sales, leaving a twitching 1/2 turnover carcass consisting of dying feature phones/Ashas, not monetisable HERE and letter-of-intent-winning NSN behind.

     

    I see my Nokia trade to dwindle sharply now and Microsoft making a Zune out of Nokia's D&S assets, while Microsoft continues on its apathetic and arrogant downward path into the future "Microsoft aims to accelerate the growth of its share and profit in mobile devices through faster innovation, increased synergies, and unified branding and marketing...". That will alienate "Nokia" device users - nobody likes Microsoft.

     

    Today, Stephen Elop turns out to be the mole I did not expect him to be. Awful.
    3 Sep 2013, 01:23 AM Reply Like
  • fafatooey
    , contributor
    Comments (414) | Send Message
     
    So you think Nokia is completely innocent. It's all Microsoft's fault. I get it.
    3 Sep 2013, 01:31 AM Reply Like
  • flybywire54
    , contributor
    Comments (726) | Send Message
     
    @Andreas

     

    Fully agree with you on Elop role and don't want to see Nokia becoming to MSFT what Motorola is to Google .
    The deal has still to be approved by Nokia shareholders and I gues the Finnish government has some say
    3 Sep 2013, 01:37 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    I too thought of Zune when I heard this news. I also thought of Skype - the difference now is that MSFT cannot afford to fail in smartphones.

     

    But if this deal goes ahead then smartphones will no longer be NOK's business. Some people on here appear to be under the illusion that if this deal goes ahead that they will still own stock in a smartphone company.
    3 Sep 2013, 01:38 AM Reply Like
  • Jacob Steinberg
    , contributor
    Comments (814) | Send Message
     
    I agree. I feel bad about defending Stephen Elop all this time. He turned out to be Microsoft's man after all.
    3 Sep 2013, 01:45 AM Reply Like
  • Andreas Hopf
    , contributor
    Comments (11028) | Send Message
     
    What makes things worse - you will see Nokia catering fully to U.S. consumers now, who do not care (as we can see from the abysmal North America sales results and yesterday's Kantar figures), alienating the European consumer base while making a Zune of it all.

     

    All that's left is cash burning HERE, letter-of-intent-winning NSN and patents. Nokia's top Smart Devices talent will flee from being succumbed to dreadful stack ranking by Microsoft.
    3 Sep 2013, 02:23 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    I can see the European courts taking a very dim view of this.

     

    Ex Microsoft guy takes over running of Nokia and makes it dependent on MSFT software. NOK share price crashes on the news.

     

    Ex Microsoft guy then runs company for a few years before Microsoft offers to buy company at a fraction of its value before the ex Microsoft guy took over.

     

    Ex Microsoft guy then rejoins Microsoft.

     

    I can't see that going down very well with the European Courts if there was a legal challenge.
    3 Sep 2013, 02:33 AM Reply Like
  • User 6348921
    , contributor
    Comments (91) | Send Message
     
    Ballmer got the deal of lifetime - A trophy division for less than half price of a piece of software code called Skype.

     

    Elop - the Trojan- is getting the deal at Microsoft soon.

     

    Short sellers are going get their ar$e on fire in couple of hours

     

    What am I -the longe term investor- getting ? A stick instead of promised Carrot by Elop.
    3 Sep 2013, 02:34 AM Reply Like
  • Leont68
    , contributor
    Comments (1384) | Send Message
     
    System why do you even care, where you not just trading nokia?

     

    personally I will take my own profits and move on to something else. Nothing interesting anymore about Nokia without lumia phones.

     

    But I am going to profit handsomely and am smiling all the way to the bank after it is all done:P

     

    Also Nokia can license windows phone after 2015 and make lumia phones again if they wanted to .....
    3 Sep 2013, 02:41 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    Yep, incredible that they may pick up Nokia's smartphone business - which is Nokia - for less than half the price of Skype.

     

    Or perhaps it shows just what a silly price they paid for Skype?
    3 Sep 2013, 02:44 AM Reply Like
  • Andreas Hopf
    , contributor
    Comments (11028) | Send Message
     
    I first of all care about profits. That's why I buy and sell securities.

     

    But I also care about a once great company and still liked brand that was not too far away from achieving an organic turnaround, if only their "partner" would not have stymied all efforts to regain market share. Now, in hindsight, Microsoft's apathetic stance towards WP8 and the international app developer community makes sense.

     

    I hope that Nokia's top talent will find the emergency exit fast and a good new employer.
    3 Sep 2013, 04:49 AM Reply Like
  • scott trader
    , contributor
    Comments (5719) | Send Message
     
    I have no horse in this race. But do have an interest in smartphone wars and Balmers exceedingly bad vision....I would take the money and run and move on personally if I was a large Nok shareholder....never look a gift horses in the mouth....there may be more upside but may be a slow climb to get there.....
    3 Sep 2013, 08:47 PM Reply Like
  • gwynfryn
    , contributor
    Comments (5057) | Send Message
     
    Agreed; better to take a sure thing, when the final outcome is so much in doubt. There's no profit (sic) to concerning oneself with "might have been"s!
    4 Sep 2013, 08:54 AM Reply Like
  • Timothy Bryan
    , contributor
    Comments (921) | Send Message
     
    I see that I just made at least 1oo k, perhaps much more if someone else jumps in..
    3 Sep 2013, 01:28 AM Reply Like
  • Jacob Steinberg
    , contributor
    Comments (814) | Send Message
     
    In a couple hours, we'll see the reaction of investors when Helsinki Stock Exchange starts trading. I haven't checked the pre-market data yet. I just submitted an article regarding my take on the whole thing.
    3 Sep 2013, 01:33 AM Reply Like
  • Timothy Bryan
    , contributor
    Comments (921) | Send Message
     
    looking forward to reading Jacob....
    3 Sep 2013, 01:37 AM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (11779) | Send Message
     
    Good luck on that. A lot of Nokia customers are European supporting a European handset maker. Getting owned by Microsoft is liable to have the same fate at when Siemens was bought by Benq. Even if business turns down the cost to restructure will exceed the cost to buy it.
    3 Sep 2013, 01:40 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    Moon, admittedly I don't know all 600 million people in Europe :) but I only know one person who owns a Nokia - a diehard MSFT fan - and a few days ago he admitted that he almost bought a Nexus 4 last week to replace his Nokia smartphone.
    3 Sep 2013, 01:55 AM Reply Like
  • Andreas Hopf
    , contributor
    Comments (11028) | Send Message
     
    European and even some Asian consumers will run away from purchasing Nokia's devices now, knowing that Lumias will soon become American style Zune zombie devices.
    3 Sep 2013, 02:25 AM Reply Like
  • Jacob Steinberg
    , contributor
    Comments (814) | Send Message
     
    Many people bought shares of Nokia because they believed in the Lumia-story. Now, a number of those people will be pressured to sell because there isn't much of a growth story left in Nokia without the phone business. Maybe Nokia will become a value play or a dividend stock after this.
    3 Sep 2013, 01:48 AM Reply Like
  • Abu Bakr Hussain
    , contributor
    Comments (599) | Send Message
     
    100% agree with you on that Jacob
    3 Sep 2013, 02:26 AM Reply Like
  • Timothy Bryan
    , contributor
    Comments (921) | Send Message
     
    Jacob,
    It definitely is a different game now, but it will be profitable for us that got in under 4...
    3 Sep 2013, 01:48 AM Reply Like
  • Hiep's Finance
    , contributor
    Comments (106) | Send Message
     
    Does anyone know if Nokia would have to obtain shareholders' approval to sell a business unit?
    3 Sep 2013, 01:56 AM Reply Like
  • Timothy Bryan
    , contributor
    Comments (921) | Send Message
     
    Hiep,

     

    they do according to the agreement.

     

    Also, this may be an opening bid:
    The transaction is subject to potential purchase price adjustments, protecting both Nokia and Microsoft, and a USD 750 million termination fee payable by Microsoft to Nokia in the event that the transaction fails to receive necessary regulatory clearances. - See more at: http://bit.ly/1dC2rBd
    3 Sep 2013, 02:02 AM Reply Like
  • tawse57
    , contributor
    Comments (803) | Send Message
     
    I really can't see anyone else wanting to buy NOK's smartphone business except to force MSFT to pay more - so to profit in this way that would need to be someone who already owns a big chunk of NOK.

     

    If MSFT does not buy now then NOK is stuffed.

     

    Someone else could think about buying NOK's smartphone business, turning it into an Android company but the time and costs required to do that would mean spending many more billions than just the price to accquire NOK.
    3 Sep 2013, 02:12 AM Reply Like
  • Hiep's Finance
    , contributor
    Comments (106) | Send Message
     
    Huawei for example could be interested in buying the D&S department to expand market share.
    3 Sep 2013, 12:18 PM Reply Like
  • Hiep's Finance
    , contributor
    Comments (106) | Send Message
     
    Thanks, diablogun. I think this deal is far from being over. If I were a shareholder that had invested in Nokia in the early 2000's I sure as hell would not accept a $2 per share bid for the D&S department.
    3 Sep 2013, 12:23 PM Reply Like
  • growingwildgs
    , contributor
    Comments (107) | Send Message
     
    WP8, Elop, Mattrick all Microsoft=Platform, Devices, Apps?
    3 Sep 2013, 02:05 AM Reply Like
  • Eureka71
    , contributor
    Comments (8) | Send Message
     
    I see a bump beyond $1.92. There are multiple factors that can add to Nokia's earnings
    a) $1.92 per share in Cash addition
    b) Bulk of the Losses in Nokia, are from the Nokia devices and services division. NSN is in a relatively better shape. So all future earnings will not have this drag.
    c) There will also be some collateral savings, because of reduction in real-estate (that was occupied by Nokia Devices and Services unit) etc..
    (b) can significantly boost future P/E's.
    3 Sep 2013, 02:26 AM Reply Like
  • docgastro
    , contributor
    Comments (37) | Send Message
     
    $5.25 @ opening?
    3 Sep 2013, 02:26 AM Reply Like
  • flux8
    , contributor
    Comments (596) | Send Message
     
    MS buys Nokia for dirt cheap. Gee, who *didn't* see this coming THREE years ago when Elop was chosen as CEO for Nokia. Now that Elop is stepping down from Nokia, any guesses who might be picked as Ballmer's successor? Sure, they might give it a couple of months to make the pretense that they're considering other candidates.
    3 Sep 2013, 02:27 AM Reply Like
  • kimboslice
    , contributor
    Comments (1661) | Send Message
     
    I thought this would happen.
    3 Sep 2013, 02:47 AM Reply Like
  • ATX
    , contributor
    Comments (98) | Send Message
     
    I don't like this at all....
    I knew Elop was a spy from Microsoft, that's why Nokia only sell Windows Phone and not Android.
    Just when you thought Nokia is making it's way to the top with their Lumia and 41mp camera phone and upcoming phablet and tablet, now Microsoft wants to buy them? If I were Nokia, I would milk Microsoft and ask them to double their offer, but knowing Elop, I think Microsoft is ripping Nokia off.
    3 Sep 2013, 02:52 AM Reply Like
  • growingwildgs
    , contributor
    Comments (107) | Send Message
     
    Nokia Up 46% in trading
    3 Sep 2013, 03:03 AM Reply Like
  • fafatooey
    , contributor
    Comments (414) | Send Message
     
    up 45% in Europe.
    3 Sep 2013, 03:05 AM Reply Like
  • Paradise808
    , contributor
    Comments (17) | Send Message
     
    Too cheap for one of the best technology in the smartphone business.
    3 Sep 2013, 03:06 AM Reply Like
  • Dr Joseph Haluska
    , contributor
    Comments (505) | Send Message
     
    where does this leave Nokia's W8 tablet?
    3 Sep 2013, 03:32 AM Reply Like
  • Leont68
    , contributor
    Comments (1384) | Send Message
     
    cancelled lols
    3 Sep 2013, 03:33 AM Reply Like
  • JoseV
    , contributor
    Comments (408) | Send Message
     
    PPS will go up this morning but only the beginning. MSFT will end up paying a lot more than the $1.92 it offerred so current longs make a killing. I dont understand why some are thinking this is a bad deal, it is good for both companies, expect that NOK and MSFT will both go up significantly.
    3 Sep 2013, 03:34 AM Reply Like
  • flybywire54
    , contributor
    Comments (726) | Send Message
     
    I hope the price that Nokia ask for its D&S division will go up at Nokia shareholder meeting . MFST must pay more .

     

    I also agree with Jacob and Andreas , I bought into Nokia because of the European cachet and the brand reputation . I can't believe this is happening . As for Elop becoming next Microsoft CEO , would a Canadian be heading a US company of that size ? Hard to believe that MFST BOD will go along .
    3 Sep 2013, 03:58 AM Reply Like
  • Andreas Hopf
    , contributor
    Comments (11028) | Send Message
     
    Don't forget, another Canadian CEO will soon be on the market - unless he will be escorted off the premises, cuffed and gagged to be safely dragged off to a remote salmon fishing location...
    3 Sep 2013, 04:53 AM Reply Like
  • flybywire54
    , contributor
    Comments (726) | Send Message
     
    hahaha . Yes you are right . And he didn't even manage to get BB bought by Siemens

     

    Just wondering what will happen to Elop chair when the music stops , should European regulators block the deal or Nokia shareholders ask for say US$14 billions ?

     

    That promises to be exciting .
    3 Sep 2013, 05:11 AM Reply Like
  • Timothy Bryan
    , contributor
    Comments (921) | Send Message
     
    lol you are a character Andreas...
    3 Sep 2013, 06:45 AM Reply Like
  • Andreas Hopf
    , contributor
    Comments (11028) | Send Message
     
    Thorsten's and Alicia's divorce will happen soon. But, lo! behold! Blackberry bounces (one last time?) today, up ~3% in Europe.

     

    Would you Adam and Eve it?
    3 Sep 2013, 10:15 AM Reply Like
  • wcz83
    , contributor
    Comments (179) | Send Message
     
    drop to 41% at europe helsinski...
    3 Sep 2013, 04:01 AM Reply Like
  • JoseV
    , contributor
    Comments (408) | Send Message
     
    Hey folks, I see a merger of Nokia and Alcatel-Lucent creating an outstanding global tech company akin to the ex- Bell Laboratories in its heyday. Longs in ALU, NOK and MSFT shld be delighted!
    3 Sep 2013, 04:02 AM Reply Like
  • JoseV
    , contributor
    Comments (408) | Send Message
     
    I mean remaining Nokia business in the merger with ALU
    3 Sep 2013, 04:03 AM Reply Like
  • Oscarapple
    , contributor
    Comments (9) | Send Message
     
    Media event live

     

    http://bit.ly/17wK0cY
    3 Sep 2013, 09:25 AM Reply Like
  • imaginator
    , contributor
    Comment (1) | Send Message
     
    "Two drowning men don’t make a swimmer."
    3 Sep 2013, 09:26 AM Reply Like
  • senhong
    , contributor
    Comments (16) | Send Message
     
    drop to 37.5% at europe helsinski...
    3 Sep 2013, 09:27 AM Reply Like
  • Huda
    , contributor
    Comments (13) | Send Message
     
    Helsinki Stock Exchange experienced technical issues. I could not take my profit in time during the second surge, because my sell orders were no accepted. I had to have my broker to call in to sell my shares.

     

    Instead of making additional profit I lost some of the initial profit, because the manual order took too long. It's an expensive price for this new experience :)
    3 Sep 2013, 10:48 AM Reply Like
  • gwynfryn
    , contributor
    Comments (5057) | Send Message
     
    The trick, Huda, is not to mind, as long as you've won, for that extra you were counting on was never really yours; you can't "lose" money you never had!
    3 Sep 2013, 11:15 AM Reply Like
  • Huda
    , contributor
    Comments (13) | Send Message
     
    @gwynfryn, thank you for the wise words. I see it as a valuable lesson learnt and not to mind about the "lost", indeed :) This knowledge will help me to act swiftly next time.
    3 Sep 2013, 04:06 PM Reply Like
  • KIA Investment Research
    , contributor
    Comments (11202) | Send Message
     
    Steve Ballmer email to Microsoft employees on Nokia Devices
    & Services acquisition

     

    Sept. 02, 2013
    From: Steve Ballmer
    To: MS FTEs
    Date: Sep. 2, 8:00 PM PDT (Sep . 3, 6:00 AM EEl)
    Subject: Accelerating Growth

     

    We announced some exciting news today: We have entered into an agreement to purchase Nokia's Devices & Services business, which includes their smartphone and mobile phone businesses, their award-winning design team, manufacturing and assembly facilities around the world, and teams devoted to operations, sales, marketing and support.

     

    For Microsoft, this is a bold step into the future and the next big phase of the transformation we announced on July 11 .

     

    We are very excited about the proposal to bring the best mobile device efforts of Microsoft and Nokia together. Our Windows Phone partnership over the past two and half years has yielded incredible work- the stunning Lumia 1020 is a great example. Our partnership has also yielded incredible growth. In fact, Nokia Windows Phones are the fastest-growing phones in the smartphone market.

     

    Now is the time to build on this momentum and accelerate our share and profits in phones. Clearly, greater success with phones will strengthen the overall opportunity for us and our partners to deliver on our strategy to create a family of devices and services for individuals and businesses that empower people around the globe at home, at work and on the go, for the activities they value most.

     

    We have laid out Microsoft's strategic rationale for this transaction in a presentation that I encourage you to read.

     

    This is a smart acquisition for Microsoft, and a good deal for both companies. We are receiving incredible talent, technology and IP. We've all seen the amazing work that Nokia and Microsoft have done together.

     

    Given our long partnership with Nokia and the many key Nokia leaders that are joining Microsoft, we expect a smooth transition and great execution.

     

    As is always the case with an acquisition, the first priority is to keep driving through close, which we expect in t he first quarter of 2014, following approval by Nokia's shareholders, regulatory approvals, and other closing conditions .

     

    But I also know people will have some questions about what happens post-close . While details aren't final, here is what we know, and how we're generally approaching integration:

     

    1. Stephen Elop will be coming back to Microsoft, and he will lead an expanded Devices team, which includes all of our current Devices and Studios work and most of the teams coming over from Nokia, reporting to me.

     

    2. Julie Larson-Green will continue to run the Devices and Studios team, and will be focused on the big launches this fa ll including Xbox One and our Surface enhancements. Julie will be joining Stephen's team once the acquisition closes, and will work with him to shape the new organization .
    3 Sep 2013, 08:00 PM Reply Like
  • KIA Investment Research
    , contributor
    Comments (11202) | Send Message
     
    Congratulations to all Nokia longs that have hung in there and been able to profit from this latest turn of events.

     

    I had hopes of seeing Nokia go to $8 - $12, but was happy to sell 2/3 of my holdings this morning and to bank a substantial return.
    I'm keeping the remaining block of shares to see how Nokia unfolds, but I'm less enthusiastic since my really love/interest was the smartphone division. I'll probably sell sooner rather than later as the opportunity arises.

     

    I picked up Microsoft this morning on the dip since I think the Lumia line is a world-class device and I also have a great deal of respect for Microsoft's other products, enterprise, desktop, gaming (and the dividend!)

     

    Anywho, Good fortune to all.
    3 Sep 2013, 08:25 PM Reply Like
  • Seppo Sahrakorpi
    , contributor
    Comments (2063) | Send Message
     
    @MrK It has been a pleasure doing business with you :)

     

    I sold 40%, and bought some more $MSFT as I believe the W8 story has legs, and adding D&S will help in the long run.

     

    I might keep the 60% a bit longer, seeing how NSN turns profitable, but moreover how Nokia is going to monetize its IP more aggressively. There is already chatter about that in the air (see e.g. Foss). I am also expecting the SP to tick higher as the market fully assesses the value of New Nokia...
    3 Sep 2013, 08:39 PM Reply Like
  • LYogi
    , contributor
    Comments (2553) | Send Message
     
    respect!

     

    congratulations.
    3 Sep 2013, 08:43 PM Reply Like
  • KIA Investment Research
    , contributor
    Comments (11202) | Send Message
     
    Thanks Yogi!
    4 Sep 2013, 05:30 PM Reply Like
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