Nokia shares outperform on M&A hopes


FILE PHOTO: Guests collect outdoors the Nokia sales space on the Cell World Congress in Barcelona, Spain, February 26, 2019. Information/Sergio Perez/File Photograph

(Information) – Shares in Finnish telecom community tools maker Nokia Oyj (NOKIA.HE) outperformed a falling market on Thursday, following a Bloomberg report it was weighing choices for potential asset gross sales and mergers.

“If exploring strategic choices, solely viable ones are a sale to an unrelated Tech firm or asset gross sales,” JPMorgan analysts’ mentioned in a analysis observe.

Shares in Nokia had been zero.four% decrease whereas European expertise shares index .SX8P was 2.three% decrease.

Nokia competes with Huawei and Ericsson for orders for brand new 5G networks that are on the heart of a brewing expertise battle between United States and China, as they’re anticipated to host vital features from driverless automobiles to navy communications.

Earlier this month, U.S. Lawyer Basic William Barr mentioned the USA and its allies ought to contemplate investing in Nokia and Ericsson to counter Huawei’s dominance in 5G expertise, fuelling hypothesis of M&A actions in sector.

Reporting by Tarmo Virki @virki; modifying by David Evans