Solidium CEO: State ownership mission is to be a strong owner
Solidium CEO Antti Mäkinen highlights the benefits of state ownership and the company's mission as a long-term owner in important Finnish companies in a Nordea interview.
Antti Mäkinen, CEO of the Finnish state-owned company Solidium, describes the biggest benefit of state ownership as having "great financial muscle" to support companies. Mäkinen spoke in the "Ideal Owners" report published by Nordea, which discusses the advantages and disadvantages of various ownership structures.
Solidium manages stakes in 11 listed companies with a mission to be a strong, long-term owner in important Finnish companies. Mäkinen explained that Solidium was established to separate ownership steering from political decision-makers, aiming to prevent political parties from using state ownership as a policy tool.
"We have significant financial muscle at our disposal," Mäkinen stated in the report. He emphasized that Solidium's board comprises experienced business leaders without political members, and the company operates under a clear, independent mandate. This allows for quicker decisions, such as in share issues, where the state's previous decision-making process could take months.
Solidium's portfolio consists of minority stakes in listed Finnish companies, valued at approximately EUR 5 billion at its inception. The company aims to strengthen Finnish ownership in nationally significant companies that lack other strong major owners, seeking to actively promote their long-term development.