(Reuters) – Shares in Nokia Oyj (NOKIA.HE) rose in a falling market on Thursday, after Bloomberg News reported that the Finnish telecom network equipment maker was considering asset sales and mergers.
FILE PHOTO: Visitors gather outside the Nokia booth at the Mobile World Congress in Barcelona, Spain, February 26, 2019. REUTERS/Sergio Perez/File Photo
JPMorgan analysts wrote in the wake of the report: “If exploring strategic options, only viable ones are a sale to an unrelated Tech company or asset sales.”
Shares in Nokia were 1.1% higher mid-day in Helsinki, while European technology shares index .SX8P was 2.1% lower.
A Mirabaud Securities trader said the Bloomberg report supported the stock, probably by triggering short covering.
The report said Nokia was considering strategic options and was working with advisers to consider potential asset sales and mergers, citing people familiar with the matter. It did not give details.
A source close to the company said there was no…
Source Reuters Tech News