June 24, 2008 / 2:29 AM / 11 years ago

Nokia to raise stake in phone-software maker -WSJ

NEW YORK, June 23 (Reuters) - Finnish cell phone maker Nokia Corp NOK1V.HE is set to boost its stake in UK-based Symbian Ltd, a provider of software for advanced cellphones, to more than 50 percent, the Wall Street Journal reported on Monday.

The move could trigger unease among other major wireless-handset vendors, as many of Nokia’s rivals — including Motorola Inc MOT.N, Samsung (005930.KS) and Sony Ericsson — rely on Symbian’s software platform for so-called smart phones, said the report.

Nokia will announce Tuesday that it is buying Siemens AG’s (SIEGn.DE) 8.4 percent stake in Symbian to increase its holding to 56.3 percent, said the article, citing people familiar with the matter.

Nokia will pay the German company about $109.4 million for the stake, said the report on the Wall Street Journal’s Web site.

Representatives for Nokia and Symbian were not immediately available for comment. (Reporting by Euan Rocha and Sinead Carew; Editing by Kim Coghill)

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