Nokia Board Commits To Increase And Accelerate Share Buyback Program To Offset Dilution From Infinera Deal
Portfolio Pulse from Benzinga Newsdesk
Nokia's board has committed to increasing and accelerating its share buyback program to offset dilution from its deal with Infinera. At least 70% of the consideration will be paid in cash, and Infinera's shareholders can elect to receive up to 30% in Nokia ADSs.
June 27, 2024 | 8:57 pm
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NEUTRAL IMPACT
Infinera's shareholders can elect to receive up to 30% of the aggregate consideration in the form of Nokia ADSs as part of the deal. This could lead to short-term volatility in Infinera's stock price.
The option for Infinera's shareholders to receive part of the consideration in Nokia ADSs introduces an element of uncertainty and potential short-term volatility in Infinera's stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Nokia's board has committed to increasing and accelerating its share buyback program to offset dilution from its deal with Infinera. This move is likely to support Nokia's stock price in the short term.
The commitment to a share buyback program is generally seen as a positive signal by investors, as it indicates confidence in the company's future and helps to support the stock price by reducing the number of shares outstanding.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100