Times Online – Newspaper Edition

By Nic Hopkins and Dan Sabbagh

MINORITY shareholders of Symbian, which makes technology for mobile phones, are aiming to prevent Nokia from acquiring a 63 per cent stake in the group through the purchase of Psion�s 31.1 per cent stake for 135 million.
The shareholders, which include Sweden�s Ericsson and Siemens, of Germany, are understood to have decided to take up their right to acquire a share of Psion�s stake on a pro rata basis, which would limit Nokia�s possible shareholding to 46 per cent.

Nokia, of Finland, the world s biggest maker of mobile handsets, agreed this month to add Psion s share in Symbian to its own 32.2 per cent holding. This triggered speculation that Nokia was seeking control of Symbian.

However, under Symbian s shareholder agreement, control is granted only when a shareholder acquires 70 per cent or more of the company.

Psion had hoped to float Symbian but Nokia is keen to keep the business private. Nokia is understood to be pleased that other shareholders are increasing their stakes.

David Levin, Symbian s chief executive, said he had heard positive sounds from the other shareholders, but I wouldn t expect them to show their hands just yet .