Germany to Nokia: Give us back our money

A few weeks ago Nokia announced that it would be closing its factory in Bochum, Germany, leaving 2,300 Germans out of work.

In 1998 and 1999, the German state of North Rhine-Westphalia gave €41.3 million (roughly $60.5 million) to Nokia in subsidies to help convert the television factory in Bochum into a mobile phone factory. The North Rhine-Westphalia Economy Ministry wants their money back.

In a press release, Nokia issued a response saying “Nokia is astonished by this. Based on the facts available to the company and Deutsche Bank, its adviser throughout the entire period, both parties strongly feel that such an attempt is without merit.”

[Via Engadget]

Leave a Reply

You must be logged in to post a comment.