Nokia: no material impact from investigation, group says
(CercleFinance.com) - The investigation relating to compliance issues at the former Alcatel Lucent business is not expected to have a material impact on Nokia, the Finnish company said on Friday.
"We have seen no evidence that would suggest that criminal penalties would apply in this case, and we believe it is highly likely that any penalties that might apply would be limited and immaterial," the group said.
While the telecoms gear maker says it does not typically comment on market rumours, the company said it had to "clarify" some aspects given the market reaction.
The shares were still losing ground after the statement, down 5.3% on Euronext Paris.
In its annual report last night, Nokia said that it has been alerted to certain matters concerning compliance issues at the former Alcatel Lucent business during the course of its integration process.
Nokia said this morning that it has begun an internal investigation and has reported its concerns to the regulatory authorities.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
"We have seen no evidence that would suggest that criminal penalties would apply in this case, and we believe it is highly likely that any penalties that might apply would be limited and immaterial," the group said.
While the telecoms gear maker says it does not typically comment on market rumours, the company said it had to "clarify" some aspects given the market reaction.
The shares were still losing ground after the statement, down 5.3% on Euronext Paris.
In its annual report last night, Nokia said that it has been alerted to certain matters concerning compliance issues at the former Alcatel Lucent business during the course of its integration process.
Nokia said this morning that it has begun an internal investigation and has reported its concerns to the regulatory authorities.
Copyright (c) 2019 CercleFinance.com. All rights reserved.