Nokia reject speculation of a possible Microsoft Takeover


News widgets and RSS feeds on


Thursday, 02 June 2011
That Nokia has lost it is no new story and that the company has no strategy to get itself out of its current hole is also something that has been talked about around. With nothing enticing coming out of Nokia, it looks like noises have been going on around the market that Microsoft wants to talk the company over.

This made late yesterday evening for the shares of Nokia to skip a bit and rose somewhat. But it turns out that that was not a truism.

Nokia CEO Stephen Elop has dismissed the idea as "baseless" a report that Microsoft had agreed to purchase the Finnish company's mobile business.

"There are absolutely no discussions," Elop said at the D9 technology conference at Rancho Palos Verdes, California on Wednesday according to Finnish news broadcaster, Yle

The website Boy Genius, or, are reported to have mentioned that according to an industry insider, Microsoft has struck a deal to buy Nokia's mobile phone business for $19 billion.

The Nokia CEO responded that, "The rumors are baseless." Elop said the first Nokia smartphone using the Windows Phone 7 software would be released in the fourth quarter of the year.

After this argument, Nokia shares retuned to its normal downbeat and continued to fall on the New York Stock Exchange on Wednesday, sliding nearly 5 percent after a more than 14 percent tumble on Tuesday.

On Wednesday afternoon, the rumours had ignited the shares of to recovered, closing down 0.8 percent on the Helsinki Stock Exchange.
By Team

Print this article

What do you think about this article? Would you like to leave a comment? It will be much appreciated. You can also rate this article.

  • Should be Empty:

Scandinavian Companies & Market Magazine
(C) 2010  Granscole Establishment Sweden AB. Registered in Sweden as a Media Company. Organisation Number: 556782-6572
F-Skatt (VAT) Number: SE556782657201