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Nokia to sell its ICL preferred shares
February 20, 1995
Nokia Corporation, today announced that it had signed an agreement with ICL, for the early redemption of its preferred share interest in ICL.
The preference shares were issued as part of the consideration for the acquisition by ICL of the Nokia Data business in October 1991. ICL will redeem the shares at the aggregate value of GBP 167.3 Million.
The agreement for early redemption is subject to the approval of the boards of directors of both corporations and of ICL's shareholders. Jorma Ollila, the Chief Executive of Nokia Corporation, will continue to serve as a board member of ICL PLC.
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