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International Journal of Finance

 


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Nokia's Growing Cash Mountain

IJFE Volume 1 Issue 1:

SAMPLE

Author(s): Ahmad Rahnema

Abstract:
As of mid-November 2002, Jorma Ollila, CEO of Nokia must decide a course of action for his company's growing cash pile of 8 billion Euro. The company does not have any immediate acquisitions on the horizon and boasts a low debt load of 450 million Euro in long-term debt and 2.6 billion Euro in customer financing exposure. Ollila has recently ruled out a share buy-back after credit agencies like Moody's threatened to downgrade the company from its current A1 credit rating. Ollila needs to come up with a plan for the cash within two weeks that will suit shareholders and Nokia's future investment needs.

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