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Report: Nokia Getting Lots Of Interest For Maps Unit

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Nokia Corporation (NYSE: NOK) might sell its maps business to a consortium of three German automakers while the unit is also drawing interest from Facebook Inc (NASDAQ: FB) and Uber Technologies, according to a report Wednesday.

Nokia confirmed on April 15 that it was reviewing a possible sale of the mapping unit, called Here.

Separately, Nokia last week made a $16.6 billion all-stock offer for Alcatel Lucent SA (NYSE: ALU)

Bloomberg had reported earlier that a group of German automakers and Uber were kicking tires at Nokia's map unit.

On Wednesday, Germany's Manager Magazin said the automaker consortium includes BMW, Audi and Daimler.

Nokia's map unit has also drawn interest from the U.S. private equity firm Hellman & Friedman, according to the unconfirmed report, which was picked up by Reuters.

Bloomberg earlier noted that Nokia values the unit at $2.1 billion and Manager Magazin said Wednesday that the German automaker group is "unprepared to pay much more than book value."

Other published speculation on potential buyers has included Microsoft, Yahoo, Apple and Amazon.

 

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Posted-In: Bloomberg Manager Magazin Nokia Maps ReutersNews Rumors Asset Sales

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