Nokia settles Telsim case

Nokia has come to an agreement with the Turkish government which will settle the long-running litigation between the two over the country’s second largest wireless operator Telsim. Under the agreement with the Turkey Savings and Deposit Insurance Fund (TMSF), which controls and manages Telsim, Nokia will receive a payout from the proceeds of the sale of Telsim, scheduled for December. The final amount Nokia will receive will depend on how much is raised by the sell-off. Motorola, meanwhile, is continuing its discussions with the TMSF with the aim of recouping ‘more than the USD2 billion owed by Telsim’.