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TECHNOLOGY

Samsung shows interest in Nokia mobile networks assets, Bloomberg News reports

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(Reuters) – Telecom equipment maker Nokia has been exploring options for its mobile networks business and has drawn interest from suitors including Samsung Electronics, Bloomberg News reported on Thursday, citing people familiar with the matter.

Nokia has considered multiple options including a divestment, selling some or all of its mobile networks business which could be valued at as much as $10 billion, as well as combining the business with a rival, Bloomberg said.

The news comes after Nokia reported last month that its second-quarter operating profit dropped 32% due to weak demand for 5G telecom equipment.

Samsung, the world’s biggest maker of memory chips, smartphones and TVs has expressed initial interest in acquiring some Nokia assets as it seeks to gain scale in the radio access networks that connect mobile phones to telecom infrastructure, the report said. The talks are still at an early stage with no guarantee that a deal would take place, according to the report.

Nokia told Reuters it does not comment on market rumours or speculation, adding that the Finnish group is committed to the success of Mobile Networks, “a highly strategic asset for both Nokia and its customers”.

Samsung Electronics declined to comment on the Bloomberg report.

 

(Reporting by Pretish M J in Bengaluru and Supantha Mukherjee in Stockholm; Editing by Susan Fenton)

 

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