Tags: Nokia | shares | Microsoft | unit

Nokia Shares Rise on Possible Microsoft Interest in Device Unit

Wednesday, 19 June 2013 06:39 PM

Shares of Nokia Oyj, the Finnish mobile-phone maker, rose as much as 6.2 percent in after-market U.S. trading Wednesday on a report that Microsoft Corp. discussed acquiring the company’s device business.

Nokia’s American depositary receipts rose as high as $4.09 after the Wall Street Journal reported on the talks. According to the newspaper, the two sides made “significant progress” on a plan to combine Microsoft with Nokia’s phone business, though the discussions have since faltered. The shares had closed at $3.85 in regular New York trading earlier in the day.

Nokia, once the dominant company in the mobile-phone industry, has struggled to win back market share from Apple Inc. and Samsung Electronics Co. That’s left investors pinning their aspirations to a takeover deal. Nokia’s ADRs rose almost 5 percent Tuesday after a report that Chinese telecommunications business Huawei Technologies Co. may be interested in acquiring the entire company.

Nokia and Microsoft already have a close partnership, with the Espoo, Finland-based company relying on the U.S. software maker for operating-system technology. Nokia introduced the Lumia 925 last month, which runs on Microsoft’s Windows 8.

Frank Shaw, a spokesman for Redmond, Washington-based Microsoft, declined to comment. Chris Hollis, a U.S.-based spokesman for Nokia, didn’t immediately respond to a request for comment.

© Copyright 2021 Bloomberg News. All rights reserved.


Companies
Shares of Nokia Oyj, the Finnish mobile-phone maker, rose as much as 6.2 percent in after-market U.S. trading on a report that Microsoft Corp. discussed acquiring the company's device business.
Nokia,shares,Microsoft,unit
209
2013-39-19
Wednesday, 19 June 2013 06:39 PM
Newsmax Media, Inc.
 
Newsmax TV Live
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved