Wednesday, July 07, 2004

InfoWorld: Nokia loses bid to gain control of Symbian

InfoWorld: Nokia loses bid to gain control of Symbian "Sony Ericsson Mobile Communications AB, along with a number of other shareholders in Symbian Ltd., has succeeded in its bid to stop rival Nokia Corp. from gaining control of the mobile phone operating system developer, but only just.
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In February, London-based Psion PLC announced its intention to sell Nokia its 31 percent stake in the Symbian wireless operating systems (OS) business, which would have made Nokia the majority shareholder, bumping its share from 32.2 percent to as high as 63.3 percent.
But Symbian's five other shareholders, Sony Ericsson, Telefonaktiebolaget LM Ericsson, Matsushita Electric Industrial Co. Ltd. (Panasonic), Samsung Electronics Co. Ltd. and Siemens AG, promised to exercise their proportional pre-emption rights to keep Nokia from becoming the majority owner of Symbian."
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