SPOTLIGHT: German bank chases Nokia to repay €60m debt


The closure of Nokia's Bochum manufacturing plant has taken a turn for the worse with the company refusing to repay €60 million in subsidies and interest to the German state of Nordrhein-Westfalen. The state government has given its bank the full authority to retrieve the money by any legal means. A Nokia spokesperson says that the company does not feel it is obliged to return the government support, but that the company is pursuing negotiations to try and solve the conflict. Around 2,300 workers stand to lose their jobs when Nokia shuts down the Bochum plant. For more on this story read YLE and Forbes.

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