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Nokia Ceo Elop to buy Nokia shares ASAP, to divest Microsoft shares soon

| February 13, 2011 | 27 Replies

Quite a few of you have tipped us the link (directly or indirectly through post comments) about Stephen Elop being the 7th biggest share holder at Microsoft, whilst holding NO/ZERO/0 stocks at Nokia.This fired up a lot of suspicions that Elop had masterminded some kind of take-over of Nokia by MS, with Nokia effectively being under MS’ thumb as he seemed to stand to gain a lot from it from his previous employer.

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Finnish site, YLE (TOP 10 Site in Finland, not just some random site) claims however that the reason Elop has no shares in Nokia is because of  the “terms of security trading regulations” that had prevented him from acquiring Nokia shares due to “insider trading”. Further more, whilst Elop did have significant shares at Microsoft, he began divesting this when he had left the company and sold as much as 60% of it before moving to Nokia.

“Preparations for the company’s new strategy meant that security exchange regulations prevented Elop from both selling his Microsoft shares and buying shares in Nokia.”

Elop will apparently divest ALL of his Microsoft shares as soon as restrictions/rules allow, and likewise, purchase Nokia stock when legally able to.

YLE

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Category: Nokia, Windows Phone

About the Author ()

Hey, thanks for reading my post. My name is Jay and I'm a medical student at the University of Manchester. When I can, I blog here at mynokiablog.com and tweet now and again @jaymontano. We also have a twitter and facebook accounts @mynokiablog and  Facebook.com/mynokiablog. Check out the tips, guides and rules for commenting >>click<< Contact us at tips(@)mynokiablog.com or email me directly on jay[at]mynokiablog.com