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The Finnish state investment fund Solidium has acquired a 3.3 percent stake in Nokia for approximately EUR 844 million. The fund said it used proceeds from selling its stake in Telia earlier this year in order to invest in Nokia, which is based on Finland, according Telecompaper. Following the share purchases early this year, the Nokia stake represents around 11 percent of Solidium's equity investments, which total EUR 8.4 billion. The fund was set up to invest in companies important to the Finnish national economy. It also holds stakes in Elisa, Kemira, Konecranes, Metso, Outokumpu, Outotec, Sampo, SSAB, Stora Enso, Tieto and Valmet.
 
Solidium said the appealing factors in a Nokia investment are the company's "strong market position combined with broad technological expertise, which provides opportunities for value creation". its purchase also increases the domestic ownership of this "nationally very important company". 
 
The fund's entire 3.2 percent stake in Telia Company was sold in early February for SEK 37.32 per share, resulting in proceeds of SEK 5.1 billion (EUR 503 million).