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Investor payouts? Nokia should just say ‘no’ Add to ...

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I guess it was inevitable. Nokia Corp. announces that it will sell its handset business to Microsoft Corp. for €5.4-billion. The sale will boost the Finnish company’s cash reserves to about €8-billion. Then – wham! – a hedge fund shows up and says: I’ll take some of that, please.

On Tuesday, Daniel Loeb, the founder and boss of Third Point, the $14-billlion (U.S.) activist fund that has taken runs at Yahoo Inc. and Sony Corp., revealed that the fund had taken a stake in Nokia and expects the company to distribute a “meaningful portion” of the handset proceeds to shareholders “in coming quarters.”

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