Russia's Putin Authorizes Rostelekom Subsidiary To Buy Out Nokia Solutions And Networks Stake In Joint Venture
Portfolio Pulse from Benzinga Newsdesk
Russian President Vladimir Putin has authorized a subsidiary of Rostelekom to buy out Nokia Solutions and Networks' stake in their joint venture, according to Reuters citing IFAX.
May 29, 2024 | 3:13 pm
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NEGATIVE IMPACT
Nokia Solutions and Networks is selling its stake in a joint venture to a Rostelekom subsidiary, as authorized by Russian President Vladimir Putin.
The sale of Nokia's stake in the joint venture could be seen as a negative development due to potential loss of market presence and revenue in Russia.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The authorization for Rostelekom to buy out Nokia's stake in the joint venture may impact the European market, which is represented by the Vanguard FTSE Europe ETF (VGK).
The transaction could have broader implications for European companies operating in Russia, potentially affecting the Vanguard FTSE Europe ETF.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50