Technology

Nokia denies rumors of selling mobile network business

Nokia has firmly rejected speculation about the possible sale of its mobile network business.

Eulerpool News Aug 31, 2024, 1:20 PM

Nokia has clearly denied rumors about a possible sale of its mobile network business. The Finnish technology company was responding to a report by Bloomberg, which speculated that the company was in talks with advisers about the future of this business segment.

Among the possible options, a sale, a spin-off, or a merger with a competitor were discussed. According to the report, the interest of potential buyers, including Samsung Electronics, is said to have been piqued as well.

In a statement released on Thursday, Nokia declared that there are no internal projects related to the speculations. 'Nokia has nothing to report in connection with the speculations in the report, no related internal project exists,' according to the company.

The mobile network business is a "critical strategic asset," and the focus is on securing its strong positioning, investing in the portfolio, and creating value for shareholders.

The Nokia stock showed little reaction on the Nasdaq Nordic despite the speculation and was temporarily 0.28 percent lower at 3.969 euros.

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