Psion has received permission from various European regulatory bodies to go ahead with the sale of its stake in Symbian Limited, the company that develops and licenses the Symbian OS. However, it still hasn’t been determined exactly who these shares will be sold to.
In February, Psion announced a plan to sell its 31.1 percent of the Symbian software group to Nokia, which would give it a controlling stake in this company. However, this proved to be very controversial and the other investors in Symbian have expressed a strong interest in buying some of Psion’s shares, rather than them all going to Nokia.
Nokia has said it is open to this idea, and it is allowable under the rules of the Symbian partnership.
This has not yet been officially announced, but it appears that the other shareholders will have the option to buy Psion’s shares equal to their current holdings in Symbian. The idea is to prevent any one company from having a majority of shares. If each company buys the maximum number of shares it is allowed, Nokia will end up with 42.2 percent of Symbian Limited.