Shares of Nokia rose Thursday after Bloomberg reported that it was considering asset sales and opting for a merger, according tomedia reports. “If you explore strategic options, the only viable option is to either sell yourself to an unrelated technology company or sell some of its assets,” JPMorgan analysts said after news of Nokia’s intention to sell assets. “
On the Helsinki Stock Exchange, Nokia shares were up 1.1 percent by midday on Thursday, while the European technology index SX8P was down 2.1 percent.
Traders at broker Mirabaud Securities said Bloomberg’s report backed the stock and may have triggered a short-shot.
Bloomberg, citing people familiar with the matter, reported that Nokia is considering strategic options and is working with advisers to consider potential asset sales and mergers. But the report gave no further details.
But a source close to Nokia said the report was not true. Nokia declined to comment on the news.
Nokia’s technology division, which manages its extensive patent portfolio, reported a 3 percent increase in operating profit in 2019 from 1.24 billion euros ($1.35 billion) a year earlier, while sales fell 1 percent to 1.49 billion euros.