Nokia comments on market rumors related to its annual report on Form 20-F

Nokia Corporation Stock Exchange Release March 22, 2019 at 16:45 (CET +1) Nokia comments on market rumors related to its annual report on Form 20-F Espoo - Finland While Nokia does not typically comment on market rumors, given the market reaction and inquiries related to a disclosure in the...

London, 22/03/2019 (informazione.it - comunicati stampa - information technology)

Nokia Corporation
Stock Exchange Release
March 22, 2019 at 16:45 (CET +1)

Espoo - Finland While Nokia does not typically comment on market rumors, given the market reaction and inquiries related to a disclosure in the risk factors section of its annual report on Form 20-F for 2018, the company issues this statement to clarify that the specified investigation is not expected to have a material impact on Nokia. We have seen no evidence that would suggest that criminal penalties would apply in this case, and we believe it is highly likely that any penalties that might apply would be limited and immaterial.

Nokia wishes to clarify that the context of this disclosure is the risk factors section of its annual report on Form 20-F where the company lists various risks which could potentially have a material impact on it. However, the disclosure does not reflect Nokia's assessment of the expected or likely impact of the investigation on Nokia.

As noted in the annual report, to ensure complete compliance we are now scrutinizing certain transactions in the former Alcatel Lucent business. Out of an abundance of caution and in the spirit of transparency, Nokia has contacted the relevant regulatory authority regarding this review. We are proud of our reputation as one of the world's most ethical companies and this level of openness, transparency and cooperation is what you would expect from Nokia.

For audit purposes, the overall group materiality is defined as EUR 125 million as disclosed in Nokia's annual report for 2018.

We create the technology to connect the world. We develop and deliver the industry's only end-to-end portfolio of network equipment, software, services and licensing that is available globally. Our customers include communications service providers whose combined networks support 5.7 billion subscriptions, as well as enterprises in the private and public sector that use our network portfolio to increase productivity and enrich lives.
Through our research teams, including the world-renowned Nokia Bell Labs, we are leading the world to adopt end-to-end 5G networks that are faster, more secure and capable of revolutionizing lives, economies and societies. Nokia adheres to the highest ethical business standards as we create technology with social purpose, quality and integrity.
nokia.com

Nokia
Communications
Tel. +358 (0) 10 448 4900
Email: press.services@nokia.com 
Jon Peet, Vice President, Corporate Communications