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3/22/2019 | 1:01:22 PM
Nokia comment u-turn
Having initially responded to Light Reading's request for further details and comment on the annual report item related to 'compliance issues' at AlcaLu by saying it wasn't commenting any further, Nokia has now commented further...

Here's what it had to say, apparently in response to 'market rumors related to its annual report' 

"While Nokia does not typically comment on market rumors, given the market reaction and inquiries related to a disclosure in the risk factors section of its annual report on Form 20-F for 2018, the company issues this statement to clarify that the specified investigation is not expected to have a material impact on Nokia. 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... For audit purposes, the overall group materiality is defined as EUR 125 million."

Better late than never...





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