Russian President Vladimir Putin authorised a subsidiary of telecoms firm Rostelecom on Wednesday to buy Nokia Solutions and Networks’ stake in a software joint venture between the companies, according to a decree.
Finland’s Nokia said in April 2022 that it would exit the Russian market after Moscow despatched troops to Ukraine in February 2022, Reuters report.
In a statement, Rostelecom said that its previous business model had become impossible after Nokia left the Russian market.
“The transaction will be completed shortly,” Rostelecom said. “Other details are not being disclosed.”
Get weekly news and analysis on the U.S. elections and how it matters to the world with the newsletter On the Campaign Trail.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PRIMANEWS.
Contact: [email protected]
