Russian President Vladimir Putin has authorized a subsidiary of telecoms firm Rostelecom to buy Nokia Solutions and Networks' stake in a software joint venture between the companies, according to a decree. Nokia said in April 2022 that it would exit the Russian market after Moscow launched its ongoing full-scale invasion of Ukraine in February 2022. In a statement on May 29, Rostelecom said that its previous business model had become impossible after Nokia left the Russian market. "The transaction will be completed shortly," Rostelecom said. "Other details are not being disclosed."
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