Nokia Siemens Scores Massive Funding
Nokia Siemens Networks has received approximately $1.56 billion in new funding from a collection of European and U.S. banks. Citing a source familiar with Nokia Siemens' plans, Reuters reports that the company sought $1.96 billion in funding, but had to settle for the lesser amount due to current market conditions. Parent companies Nokia and Siemens last year said they would no longer contribute funding to the joint venture, which announced job cuts of 17,000 in November. Nokia Siemens has struggled to compete with rival networking gear makers.
Nokia Confirms Talks to Acquire Alcatel-Lucent
Nokia and Alcatel-Lucent today said they are in advanced talks concerning a merger or acquisition between the two. Such a deal would would produce a massive competitor to Sweden's Ericsson and China's Huawei in the telecommunications market.
Nokia's HERE Maps Quick to Draw Suitors
Four companies have expressed interest in acquiring Nokia's HERE Maps business, reports Reuters. A coalition of German auto makers, Audi, BMW, and Daimler, are weighing a joint bid, as are Facebook, Uber, and U.S.
Nokia Issues Statement On Handset Plans
Nokia today issued a statement reaffirming that it will not manufacture cell phones. "Recent news reports [claim Nokia] communicated an intention to manufacture consumer handsets out of an R&D facility in China.
Audi, BMW, Daimler to Buy Nokia's HERE Maps
A consortium of three German automotive makers has agreed to purchase HERE Maps from Nokia for about $2.71 billion, according to the Wall Street Journal. Sources familiar with Nokia's plans say Audi, BMW, and Daimler (Mercedes) have fielded a winning bid for the mapping division, which Nokia put up for sale earlier this year.