Ericsson and Sony Ericsson to exercise pre-emption rights

1 replies · 2,550 views · Started 22 March 2004

Rafe 22 Mar 2004, 02:24

According to this FT article both Ericsson and Sony Ericsson will be exercising their right to buy some of Psion's Symbian shares. Currently they hold 17.5 and 1.5 percent respectively. Their new combined shareholding will be 27.6%.

If all shareholders exercised their pre-emption rights, Nokia's holding in Symbian would only increase to 46.7 per cent.

martinharnevie 23 Mar 2004, 00:00

This is positive news. Though still not enough for comfort. There are some indications that SE is in a persuation campaign to make other shareholders do the same and this would bring Nokia's shareholding below the 'psychological' 49% limit.

My view is that Symbian's future would be best served if Nokia's shareholding is around 40%.

cheers
Martin