Nokia increases Brazilian investment

HELSINKI, Finland-Nokia increased it ownership of Brazilian joint venture NG Industrial to 100 percent by acquiring all the shares of NGI held by Gradiente Telecom, 49 percent, for $415 million. Brazil plans to auction new personal communications services licenses in early 2001 in the 1800 MHz band, allowing GSM technology into the country for the first time. GSM manufacturers such as Nokia are making plans to boost in-country production ahead of the license allocations.