"Nokia does not comment on market rumours," said a spokesman for the company.
Earlier on Thursday shares in Nokia surged 12.5%, with traders pointing to a report by online newspaper TMT Finance that said the group was working to defend itself from a hostile takeover bid …
Earlier on Thursday shares in Nokia surged 12.5%, with traders pointing to a report by online newspaper TMT Finance that said the group was working to defend itself from a hostile takeover bid for parts or all of its business. Nokia shares spike on report of takeover bid Published: April 17, 2020 at 6:36 a.m. Earlier on Thursday shares in Nokia surged 12.5%, with traders pointing to a report by online newspaper TMT Finance that said the group was working to defend itself from a hostile takeover bid … Nokia's stock price went up yesterday after a TMT Finance report said the company had hired Citi to fend off a hostile takeover bid from an unnamed U.S. private equity fund. “Nokia does not comment on market rumours,” said a spokesman for the company.The TMT Finance report said Nokia had hired Citi, a regular investment banking partner of the Finnish firm, for the deal which could be worth $17.4 billion.Nokia shares have been battered since October 2019 as investors worry it might miss out to Huawei and Ericsson in the move to new 5G networks. The company has taken several steps to try to accelerate its 5G strategy, lowering its cost savings target in January to invest more on its 5G development, which promises faster connectivity for mobile phones and to enable driverless cars.Lina Saigol is the London-based head of corporate news in the Europe, Middle East and Africa regions for MarketWatch and Barron’s Group.In March, it announced the resignation of Chief Executive Rajeev Suri with Pekka Lundmark appointed to help turn the company’s fortunes.The two-dose regimen is well above other known vaccine prices.Shares in Nokia rose almost 4% on Friday, after a media report said the Finnish telecommunications group had hired bankers to defend itself against a potential hostile takeover.
The rumored bid could relate to the company as a whole or to specific assets. Lina Saigol Comments. Nokia shares surge on report of takeover bid Nokia declined to comment on Thursday on a media report saying it was working with an investment bank to defend itself from a hostile takeover… Earlier this year Nokia also said it would replace its long-time chief executive Rajeev Suri.Reporting by Tarmo Virki in Tallinn; Editing by David Evans and Jan HarveyEarlier on Thursday shares in Nokia surged 12.5%, with traders pointing to a report by online newspaper TMT Finance that said the group was working to defend itself from a hostile takeover bid for parts or all of its business.In February Bloomberg reported Nokia was exploring strategic options and was working with advisers to consider potential asset sales and mergers, but a source close to Nokia told Reuters at the time there was “no truth to the report”.
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