Also, Nokia has an end-to-end portfolio, that includes fixed and optical networks and some strategic business like submarine cables, meaning a takeover will bring more value than just 5G. Today, investors learned that some of that rally might have been due to buying in a hostile takeover attempt. Speculation has arisen that Nokia might be trying to fend off a hostile takeover. The recent rumors about Nokia fighting a hostile takeover also make an argument that the company might be a better candidate. TMT Finance says Nokia hires Citi to fend off hostile takeover, Bloomberg says: NOK Nokia $3.14 / -0.08 (-2.48%) 03/27/20 Goldman Sachs Nokia upgraded to Neutral from Sell at Goldman Sachs 03/02/20 Fly Intel: Top five analyst initiations 03/02/20 Northland Is Nokia a takeover target? The rumours themselves can be traced back to TMT Finance, though such reports should always be taken with a pinch of salt. Nokia share price has jumped more than 10% following rumours the equipment vendor could be the target of a hostile takeover. Nokia's stock price went up yesterday after a TMT Finance report said the company had hired Citi to fend off a hostile takeover bid from an unnamed U.S. private equity fund. (Reuters) - Nokia declined to comment on Thursday on a media report saying it was working with an investment bank to defend itself from a hostile takeover, news which sent its … CEO Rajeev Suri set to leave Nokia later this year. Also, Nokia has an end-to-end portfolio, that includes fixed and optical networks and some strategic business like submarine cables, meaning a takeover will bring more value than just 5G. Nokia's stock jumped roughly 12% Thursday after a report indicated the company was preparing to defend itself against a hostile takeover. Nokia shares weren’t looking good since October 2019, but their price suddenly improved in a single afternoon. Nokia declined to comment on Thursday on a media report saying it was working with an investment bank to defend itself from a hostile takeover — the news of which sent its shares flying. The price isn’t that good, but it did start some speculations about some kind of hostile takeover or a strategic merger deal that might be commencing. “Nokia does not comment on market rumours,” said a spokesman for the company.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.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. The rumored bid could relate to the company as a whole or to specific assets.
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