Update:
The list of suitors for HERE grows with a report from Bloomberg claiming that Nokia is also trying to get Apple, Amazon and Alibaba interested in the deal. The report claims that the first round of bids will take place at the end of next week. Nokia is seeking more than 3 billion euros for the business that it once acquired for $8 billion. There are more bidders though as per the report: Sirius XM Holdings Inc. and Harman International Industries Inc. and Baidu Inc.
Nokia Oyj, the Finnish company selling its money-losing maps business, is trying to drum up interest from some of the biggest names in technology including Apple Inc., Alibaba Group Holding Ltd. and Amazon.com Inc., people with knowledge of the matter said.
Those companies as well as Facebook Inc., a group of German carmakers, and private-equity firms are among the companies looking at Nokia’s maps operations, known as HERE, highlighting the ubiquity and utility of location-based services. Nokia is seeking more than 3 billion euros ($3.2 billion) from a sale of the unit, said one of the people, who asked not to be identified discussing private information.
Sirius XM Holdings Inc. and Harman International Industries Inc. also were approached about their interest, said the people. First-round bids for the unit are due at the end of next week, one person said.
While announcing Alcatel Lucent’s acquisition, Nokia also made it clear that they were planning to divest HERE business.
Nokia today announces that it has initiated a review of strategic options, including a potential divestment, for its HERE business. HERE is a leader in navigation, mapping and location intelligence.
A report that appeared in a German Magazine now cites Facebook and Uber as potential bidders for HERE. Auto makers BMW, Audi and Daimler had already made an offer jointly to Nokia for HERE but Nokia went open with announcement to sell HERE in order to get better offers.
To the sale of here a dispute emerged after information of the manager magazine also. The Federation of car from BMW, Audi and Daimler have submitted a proposal for here before the regular sales process Nokia CEO Rajeev Suri. Then, head of Nokia have launched an open sale procedure and opened the data space. So Suri is hoping to get a better price for the business.
While this is hardly surprising that Nokia may seem to sell HERE business while focusing sharply on Networks and Technologies, Nokia is in no hurry to sell HERE. For Nokia fans though it may not be a happy news, but it is ultimately a business decision!!
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