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Nokia (NOK) signs a deal to sell its headquarters in Finland to scrounge up more cash. The home...

Nokia (NOK) signs a deal to sell its headquarters in Finland to scrounge up more cash. The home for Nokia's top execs sold for $221.9M. A statement from the company acknowledges it needs to continue to sell non-core assets as opportunities arise.
Comments (16)
  • $222m might be the price, but Finnish taxes need to be added.

     

    All in all NOK will get a net income of $150m I'd say.
    4 Dec 2012, 07:15 AM Reply Like
  • Maybe the Finnish government should give them a big tax break since they gave them billions of tax money over a long time, so as to help them get back on their feet!
    4 Dec 2012, 07:20 AM Reply Like
  • I think Finnish government said they will not save NOK if NOK is close to bankruptcy... so as regards tax rebates I'm not sure :-P
    4 Dec 2012, 07:22 AM Reply Like
  • That is too bad since Nokia was their money pit for many years
    4 Dec 2012, 08:50 AM Reply Like
  • Here is the link:
    http://bit.ly/11MSTLh

     

    NOK has stopped paying taxes in Finland for some time now.
    4 Dec 2012, 08:52 AM Reply Like
  • well you can't pay taxes from losses can you
    5 Dec 2012, 03:27 AM Reply Like
  • The diversity of comments is most confusing to the small investor. One day we are told by analysts that NOKIA is sitting on a treasure-trove of patents, which insure a stable and significant source of income. The next day we hear that they are selling the headquarters building to raise cash. One day we hear that the Lumia 920 is a "sell-out"; then another source informs that the "sell-out" is a managed strategy accomplished by under-supplying product to retail outlets!
    WILL THE REAL NOKIA PLEASE STAND UP !
    LBG
    4 Dec 2012, 08:13 AM Reply Like
  • The way I see it is that Nokia management has clarified their strategy in the different units and that they are getting rid of everything that is not regarded as core in this framework. Sell lease-back is pretty common.
    4 Dec 2012, 04:45 PM Reply Like
  • Thank you for being so bold! I loved your post. I am one in the red BIG TIME over this stock. Currently my red: is $7422 and my green: $1956, this really sucks. I am holding on to the hope you posted about. If you know more, please send to shalldncr@aol.com
    5 Dec 2012, 01:22 AM Reply Like
  • 77yr old, U.S.Naval Academy graduate, retired as Captain, USNR;
    Bank president for eleven years; presently active in real estate law practice;
    married with 12 grandchildren; manage my own retirement portfolio
    4 Dec 2012, 08:17 AM Reply Like
  • "As we have said before, owning real estate is not part of Nokia's core business and when good opportunities arise we are willing to exit these types of non-core assets. We are naturally continuing to operate in our head office building on a long-term basis," said Timo Ihamuotila, CFO, Nokia.

     

    This true quotation is an essential correction to the biased statement "needs to continue to sell".
    4 Dec 2012, 08:38 AM Reply Like
  • So SA is biased against Nokia maybe? ha.
    4 Dec 2012, 01:34 PM Reply Like
  • >> lbgoldstein. 74yr old international sales executive and property investor. I suggest lbg the real Nokia appears in their accounts. Turnover $40bn and losing only $2bn in the middle of a major restructuring. It's not rocket science. Nokia has already turned, all the desperate attempts to drive the stock price down notwithstanding. Just look at the negative tone the way the HQ sale is reported by some, when it's so obviously the sensible thing to do even though their balance sheet is already rock solid. The shorts will be squeezed, just you see.Enjoy the ride.
    4 Dec 2012, 08:43 AM Reply Like
  • Nokia seems to be more sensible than some governments.
    4 Dec 2012, 08:58 AM Reply Like
  • My favorite comment on SA so far!
    4 Dec 2012, 09:12 AM Reply Like
  • Unless real estate in Helsinky is booming like in Shanghai, it is better to reinvest this money in business and create more value for the shareholders.
    4 Dec 2012, 01:07 PM Reply Like
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