Finnish watchdog finds Nokia 2019 profit warning complied with rules

The logo of Nokia is seen before the company’s news conference in Espoo, Finland March 2, 2020. Lehtikuva/Markku Ulander via REUTERS

HELSINKI (Reuters) – An investigation by Finland’s Financial Supervisory Authority has concluded that telecoms equipment maker Nokia’s unexpected profit warning in October 2019 was in line with stock exchange rules on inside information, it said on Friday.

In October 2019 Nokia slashed its 2019 and 2020 profit outlook and halted dividend payouts, sending its shares more than 20% lower.

“The Financial Supervisory Authority sees that Nokia Plc did not fail in their duty to publish inside information as soon as possible,” it said in a statement, adding that its review of the matter showed no reason for further action.

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