Thu, Oct 04, 2012 - Page 15 News List

Struggling Nokia might sell nerve center in Helsinki


Struggling Finnish mobile phone producer Nokia might sell its headquarters on the outskirts of Helsinki, a senior company official was quoted as saying yesterday.

“We are exploring different options for our property assets. This includes a possible sale of our headquarters,” Nokia financial director Timo Ihamuotila told the Finnish daily Helsingin Sanomat.

“However, we have no plans to move our head office,” he added.

The sale of property by a company that then rents the same assets from the buyer is a well-established strategy used by companies needing to raise cash.

The Finnish daily Ilta-Sanomat said without citing sources that the building was worth between 200 million (US$258.2 million) and 300 million euros.

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