Jolla says it’s trying to part ways with its major Russian stakeholder

Finnish software outfit Jolla has announced that it is attempting to disentangle itself from the Russian state interests that hold a significant stake in its business. Samuli Simojoki, current chair of Jolla’s board, posted (in Finnish) on LinkedIn, saying that Jolla is currently 45-percent owned by Rostelecom. The Russian telecommunications giant is itself 45-percent owned by the Russian government, and so while it’s not a majority stake, it is significant. Simojoki added that Jolla has been “actively” driving down its Russian business through 2021 and, at this point, does not make any money from the nation. But, until it can find a way of buying Rostelecom out, or somehow otherwise arranging a separation, the thorny issue remains.