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Sun, 22 Sep, 2013 12:01:45 AM
FTimes-STT Report, September 22
Prime Minister Jyrki Katainen,talking to Yle TV 1 as the morning guest on Saturday. Photo - Str / Lehtikuva
The Prime Minister, Jyrki Katainen on Saturday said that the amount scheduled to be taken by the Nokia’s former chief executive officer Stephen Elop for completing the selling deal of the mobile phone giant Nokia to Microsoft was unfair and outrageous.
“If rewarding is outrageous then it feels unfair especially when the economic situation is difficult,” said Katainen in an interview with the Yle TV 1 as the morning guest.
He, however, defended the tax policy of international leaders that the maximum tax for a foreign company would be 35 percent for doing business.
The Prime Minister pointed out that his tax rate is almost 45 percent.
Earlier, it was disclosed that the former CEO of Nokia, Stephen Elop is going to get EUR 18.8 million for making the deal of selling Nokia to Microsoft.
Microsoft will pay 70 percent of the money to Elop while Nokia will give the rest 30 percent of the total amount, Finnish language newspaper Helsinki Sanomat reported.
The amount was determined by Nokia’s share price on 6 September, three days after the deal between Nokia and the Microsoft.
File picture of Former Nokia CEO Stephen Elop speaks at a press conference while announcing the sale of Nokia to Microsoft on September 3. Photo - Lehtikuva
The financial deal with the former Nokia CEO, however, was criticised by the investors of the Finnish stock exchange.
Mobile phone giant Nokia Corporation on September 3 decided to sell all of its phone sets, services and patent licences to software company Microsoft for EUR 5.44 billion.
Nokia expects to book a gain on sale of approximately EUR 3.2 billion, and expects the transaction to be significantly accretive to earnings.
The transaction between the companies is expected to be completed in the first quarter of the next year after completion of approvals of the shareholders, regulatory approvals and other customary closing conditions.
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