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NEW YORK (TheStreet) -- Nokia (NOK - Get Report) hit a 52-week high of $8.25 on Wednesday after the communications company announced it would buy back some of its shares.
The company plans to buy up to 370 million shares, or the equivalent of 1.25 billion euros. Nokia will start the buyback after it announces its second-quarter results for the fiscal year 2014, which it plans to reveal on July 24.