Nokia's Symbian buyout approved

Jun 09 2004 - 01:26 PM ET | Nokia
Nokia's purchase of Psion's 31% stake in smartphone OS maker Symbian has been approved by German competition authorities. The move has also been approved by Psion's shareholders and the other compteition authorities that have jurisdiction. According to the AFP, there is just one more hump to get over: bq. The deal is now moving to its final phase, when other shareholders in Symbian, a mobile phone software firm, can use their proportional pre-emption rights to buy the shares... If they all exercise their rights, Nokia's Symbian stake will increase to 46.7 percent from 32.2 percent currently, and the combined ownership of Ericsson and Sony Ericsson would rise to 27.6 percent from 19.0 percent.