Will Nokia’s Tax Troubles Annoy These Top Institutional Shareholders?

Nokia (NYSE:NOK) played down a multi-billion rupee tax that has been demand from India, as it says that it did not have to pay any part of the demand for now and keeps fighting the claim, Reuters reports. Indian tax officials required that Nokia pay 20.8 billion rupees ($383 million) in unpaid taxes, as it has stepped up its claims against foreign companies, although the Delhi High Court issued a stay on the demand. If the tax order is enforced, it has the potential to add to pressure on Nokia’s finances already strained by a decline in sales. Furthermore, the company axed its annual dividend payment for the first time in its history to shore up its cash position. “Nokia reiterates its position is that it is in full compliance with local laws as well as the bilaterally negotiated tax treaty between the governments of India and Finland and will defend itself vigorously,” the company stated via a statement.

These institutional firms indicated owning shares of Nokia in Q4 2012. They reported owning a total of 502.18 million shares on 12/31/2012. The shares closed at $3.95 on 12/31/2012.

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Here are the ten largest positions in Nokia at the end of December 31, 2012.

Goldman Sachs Group Inc held 109,355,872 shares on 12/31/2012 worth $431,955,700. This brought the portfolio total to 0.18 percent.

Dodge & Cox held 97,978,393 shares on 12/31/2012 worth $387,014,657. This brought the portfolio total to 0.52 percent.

Morgan Stanley held 35,649,964 shares on 12/31/2012 worth $140,817,359. This brought the portfolio total to 0.08 percent.

Capital Research Global Investors held 22,911,674 shares on 12/31/2012 worth $90,501,113. This brought the portfolio total to 0.04 percent.

Price T Rowe Associates Inc /MD/ held 22,898,600 shares on 12/31/2012 worth $90,449,471. This brought the portfolio total to 0.03 percent.

Susquehanna International Group LLP held 17,694,900 shares on 12/31/2012 worth $69,896,000. This brought the portfolio total to 0.02 percent.

Arrowstreet Capital Limited Partnership held 12,248,986 shares on 12/31/2012 worth $48,383,495. This brought the portfolio total to 0.43 percent.

UBS AG held 9,430,510 shares on 12/31/2012 worth $37,250,515. This brought the portfolio total to 0.04 percent.

Goldman Sachs Group Inc held 7,727,200 shares on 12/31/2012 worth $30,522,000. This brought the portfolio total to 0.01 percent.

Credit Suisse AG held 7,726,255 shares on 12/31/2012 worth $30,518,708. This brought the portfolio total to 0.03 percent

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