Nokia Oy’s breakneck expansion into electronics via acquisition has left the company short of resources for the major investments needed to exploit the opportunities in its three key businesses – cellular telephones and equipment, high-definition television and computer systems – and the consensus is that one will have to go to raise funds for the other two, with Nokia Data much the most likely: if it were to go onto the block, or a partner were sought, all the European majors, led by ICL, Ing C Olivetti & Co SpA, Bull SA and Siemens AG would want to take a close look at what might be a once-in-a-lifetime opportunity to gain a dominant position in the Scandinavian computer market; in the new era of vendor-independent standards, acquisitions of companies that are racing down the standards route simply represent market share gained and a competitor eliminated with, in the case of Nokia, a substantial presence in the banking terminal business as a sweetener; the downside is that further substantial job cuts would likely be needed at the Swedish factories in any acquisition.
