Nokia’s share price jumped when there was a rumor in the market that Samsung would make a bid for the Finnish company. Nokia has not commented on the rumor.
The mobile phone company, Nokia’s share prices began to increase sharply on the Helsinki Stock Exchange a little after 3 o’clock in the afternoon. At its height, the share had risen by 11 percent to 2.50€.
Eventually, Nokia ended the day up 6 percent or 2.36€. Shares worth 148 million euros were traded. In New York, in the evening, Nokia shares were being traded at $2.98 or 2.39€.
The surge in Nokia share prices is considered to be related to the rumor that the Korean electronics giant, Samsung, would be making an offer for Nokia.
“The accuracy of the rumor that Samsung would make an offer for Nokia is unknown. The source of the rumor is also unknown,” says the Nokia-analyst interviewed by Taloussanomat.
“The rapid rise in Nokia’s share price is due to the rumor. If it weren’t for this rumor, the stock price may have fallen,” the analyst said.
According to the Swedish newspaper, Dagens Industri, Samsung would be interested in purchasing Nokia shares at the price of 4€.
No Comment from Nokia about the Samsung takeover bid.
“We will not comment about this in any way. We have a policy that we do not comment on market rumors at all,” Nokia representatives told Taloussanomat.
This is not the first time that Nokia has been rumored to be the object of a takeover. The market has seen repeated rumors that Microsoft is interested in buying Nokia.