Nokia responds: Alcatel-Lucent probe shouldn't have material impact

|About: Nokia Corporation (NOK)|By:, SA News Editor

In a new statement on Alcatel-Lucent compliance issues that emerged in its annual 20-F filing, Nokia (NOK -5.8%) says it's clarifying that its probe is not expected to have a material impact.

That's despite risk-factor language in the filing that potential monetary fines could have a material adverse effect.

The probe is "not expected to have a material impact on Nokia. We have seen no evidence that would suggest that criminal penalties would apply in this case, and we believe it is highly likely that any penalties that might apply would be limited and immaterial."

"Out of an abundance of caution and in the spirit of transparency, Nokia has contacted the relevant regulatory authority regarding this review," it says.

And for audit purposes, it notes overall group materiality is defined at €125M as disclosed in the annual report.

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