Dear Nokia shareholders: Don’t whine, sell

4 Apr

Nokia shareholders are quite the whiny bunch in light of the Microsoft pact.

To wit:

  • Waaahh. I don’t like the Microsoft deal.
  • Boo hoo. I wanted a takeover.
  • Stephen Elop is a plant!
  • This Microsoft deal is the death of Nokia.

In an open letter, recapped by Sam Diaz on Tuesday, a group of nine young Nokia shareholders—unnamed to boot—wrote a letter to shareholders and institutional investors urging them to replace Elop.

This gang of nine, plans to challenge the Microsoft deal at Nokia’s annual meeting. A plan B would revamp the company without becoming a commodity player. Update: This group of Nokia shareholders was a hoax.

I have a better idea. Shut up and sell your shares. This is reminiscent of Carl Icahn griping about Yahoo, getting a board seat and then trying to force change. In the end, Icahn did what he should have done—sell Yahoo shares. Icahn would have saved himself a lot of grief—and made more money—if he just shorted Yahoo to oblivion.

Institutional shareholders aren’t going to listen to the gang of nine. Why? If they didn’t like the Microsoft deal, they sold already. You have a vote. Your shares.


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