Solidium, Finland’s investment arm, built the stake in Nokia by buying shares on the market over the early months of 2018.
Rovio now had more muscle to do deals in a gaming sector, ripe for consolidation.
The preliminary price range of 10.25 euros to 11.50 euros per share announced on Friday would give Rovio a market value of 802 million to 896 million euros.
The Information reported that Tencent is exploring a possible $3 billion bid for Rovio.
Sponda’s board has recommended the firm accept Blackstone’s offer.
Trafigura will acquire the stake through its Galena fund.
Microsoft Corp will trim down its smartphone business by cutting 1,850 jobs, most of them in Finland, and write down $950 million from the operation.
Finnish mobile network equipment maker Nokia said on Tuesday it had struck a deal to buy France’s Withings S.A. for 170 million euros ($191 million) in its first move into the market for digital products that monitor health. Withings‘ products include activity trackers, weighing scales, thermometers, blood pressure monitors and… Read more »
The lead investor of the fund raising round was EQT Ventures, and other shareholders included Ilkka Paananen, the CEO of mobile games firm Supercell.
Finland’s Nokia said on Monday it has gained control of French rival Alcatel-Lucent following its 15.6-billion-euro ($17 billion) all-share offer and the two telecom equipment makers would combine on Jan. 14. The French stock market authority said interim results showed Nokia would hold around 79 percent of Alcatel shares. The… Read more »