Telecommunications giant Nokia says it will delist from the Frankfurt Stock Exchange, with the company pinning the move on its “decreased trading volumes”.
“Nokia’s trading volumes on the Frankfurt Stock Exchange have decreased during the years and currently represent only a small percentage of the total global trading volumes of the Nokia share,” it said.
The company plans to delist next year, although that move will remain subject to approval. The decision comes after Nokia Siemens announced plans to slash thousands of jobs worldwide.
Although the company is still one of the biggest phone makers in the world, it has undergone a significant restructure and ias attempting to gain market share back from Apple and other manufacturers.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
