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Tech

Nokia shares surge on news of possible takeover

By
Reuters
Published April 16, 2020, 3:27 p.m. ET

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.

“Nokia does not comment on market rumors,” said a Nokia spokesman.

Earlier on Thursday shares in Nokia surged 12.5 percent 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.