Nokia declines to comment on media report of hostile takeover bid

(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, the news which sent its shares sharply higher. 'Nokia does not comment on market rumours,' said a Nokia spokesman

Reuters April 17, 2020 00:07:25 IST
Nokia declines to comment on media report of hostile takeover bid

Nokia declines to comment on media report of hostile takeover bid

(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, the news which sent its shares sharply higher.

"Nokia does not comment on market rumours," said a Nokia spokesman.

Earlier on Thursday shares in Nokia surged 12.5% with traders pointing to a report by online newspaper TMT Finance that said Nokia was working to defend itself from a hostile takeover bid for parts of its business or the whole company.

(Reporting by Tarmo Virki in Tallinn; editing by David Evans)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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