Nokia Sells Its HQ (But It’s Not Moving Out)

Nokia Sells Its HQ (But It’s Not Moving Out)

To make up for the fact that it’s struggling financially, Nokia has sold it HQ building in Espoo, Finland. But it’s not moving it out.

Instead, it’s entered into a long-term lease with the new owner, Finland-based Exilion, which ponied up $US220 million for the sleek set of corporate offices. Nokia has explained:

“We had a comprehensive sales process with both Finnish and foreign investors and we are very pleased with this outcome. As we have said before, owning real estate is not part of Nokia’s core business and when good opportunities arise we are willing to exit these types of non-core assets. We are naturally continuing to operate in our head office building on a long-term basis.”

Whether or not a $US220 million cash injection can save the company’s ailing financial status, however, remains to be seen. [Nokia via Verge]

Image: timonoko/Flickr