Is Nokia working to defend itself from 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.
Will Nokia's 5G competition continue in 2020?
The company, which competes with Ericsson ERICb.ST and Huawei [HWT.UL] for 5G network equipment, said in February it expected intense competition to continue in 2020 as rivals sought to grab market share. 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.
Is Nokia-Citi deal worth $17 billion?
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.
Why is Nokia’s share price battered?
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. Earlier this year Nokia also said it would replace its long-time chief executive Rajeev Suri.