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>> LOEB Latest News

OCT 23, 2013 - MarketWatch

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Loeb's Third Point shrinks, takes stake in Nokia

LONDON (MarketWatch) -- Daniel Loeb's Third Point LLC hedge fund bought a stake in Nokia Oy after the Finnish company revealed it was selling off its handset business to Microsoft , according to a report in The Wall Street Journal. Loeb told investors in a third-quarter update letter that Nokia's estimated $11 billion in cash reserves could result in a share buyback or special dividend. Nokia's shares fell 0.4% in trading Tuesday after the news, and are up 0.9% Wednesday. In the same letter, Loeb said Third Point plans to return 10% of its $14 billion in assets to investors, a move that ... Read More

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