Report: Nokia Corp. Getting Lots Of Interest For Maps Unit

Loading...
Loading...
Nokia Corp.
NOK
might sell its maps business to a consortium of three German automakers while the unit is also drawing interest from Facebook Inc.
FB
and Uber Technologies, according to a report Wednesday. Finland-based Nokia confirmed on April 15 that it was reviewing a possible sale of the mapping unit, called Here. https://www.sec.gov/Archives/edgar/data/924613/000110465915027550/a15-9180_16k.htm Separately, Nokia last week made a $16.6 billion all-stock offer for Alcatel Lucent SA
ALU
Bloomberg had reported earlier that a group of German automakers and Uber were kicking tires at Nokia's map unit. http://www.bloomberg.com/news/articles/2015-04-10/nokia-said-to-weigh-sale-of-maps-business-to-focus-on-networks On Wednesday, Germany's Manager Magazin said the automaker consortium includes BMW, Audi and Daimler. http://www.manager-magazin.de/unternehmen/it/deutsche-autohersteller-bieten-fuer-nokia-navigationssparte-a-1029790.html Nokia's map unit has also drawn interest from the U.S. private equity firm Hellman & Friedman, according to the unconfirmed report, which was picked up by Reuters. http://in.reuters.com/article/2015/04/22/us-nokia-maps-idINKBN0ND0KW20150422 Bloomberg earlier noted that Nokia values the unit at $2.1 billion and Manager Magazin said Wednesday that the German automaker group is "unprepared to pay much more than book value." Other published speculation on potential buyers has included Microsoft Inc.
MSFT
, Yahoo Inc.
YHOO
, Apple Inc.
AAPL
and Amazon.com Inc.
AMZN
.
Market News and Data brought to you by Benzinga APIs
Posted In: NewsRumorsAsset Sales
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...