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Nokia to sell Espoo HQ?

Nokia is considering the sale of its headquarters in Espoo, the Finnish dailies Helsingin Sanomat and Ilta-Sanomat report on Wednesday.

Nokia HQ
Waterfront real estate for sale? Image: Yle

The financially-strapped mobile giant says it has no plans to move away, though. It would remain in the building as a tenant.

When Nokia released its second-quarter results last summer, it suggested that worldwide real estate sales would be part of its efforts to counterbalance crippling losses in its smartphone business.

According to Ilta-Sanomat, the seaside building complex in Keilaniemi, just over Helsinki’s western border, is worth some 200-300 million euros.

"We are studying various alternatives regarding our real estate holdings,” Nokia’s Chief Financial Officer Timo Ihamuotila told Helsingin Sanomat. “The possible sale of the main office is part of this study. We don’t have any plans to move our headquarters elsewhere, though.”

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Tuesday's papers: Social Contract criticised, neo-Nazi Swedish links, and US ambassador wins over media

Pääministeri Juha Sipilä esitlteli työmarkkinajohtajille hallituksen ehdotuksen yhteiskuntasopimusprosessin jatkosta 3. elokuuta Kesärannassa.

Analysis of the much-hyped "Social Contract" dominates the front pages today, with some papers doubting whether the accord will live up to its name and benefit employees, employers and the economy equally. Elsewhere, links between Finnish neo-Nazis and their Swedish counterparts come to light, and opening remarks - in Finnish - by the new US ambassador generate widespread excitement.

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