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Nokia can sell HERE in part or full, as German car makers with Baidu plan formal bid to acquire majority stake in HERE

HERE Maps demoIt will be really interesting to see what happens of HERE in coming weeks. Nokia has reiterated at its AGM that they are in no hurry to sell HERE and can sell it in part of full or even not sell the business.

– Evaluation does not necessarily lead to Heren sale. We also believe in the ability of Nokia, as part of the Heren Siilasmaa said.

Siilasmaan according to Nokia’s leadership can quietly choose the best option in terms of Heren.

Also the ceo Rajeev Suri, stressed in its own survey that Nokia is in no hurry to make decisions in Herestä.

– Here can be sold in full or in part, or to keep as part of Nokia. There is no hurry, Suri said the shareholders the annual general meeting held on Tuesday at the Helsinki Fair Centre.

But a report mentions German Car Makers BMW, Audi and Daimler along with Chinese giant Baidu launching a formal bid to acquire majority share in HERE. The German Car Makers may offer “considerably more than €2 billion” for a majority stake in HERE. As per the report Car Makers are worried about HERE going to any of the technology gaints like Apple, Facebook or Google that can have adverse effect on “self-driving car” projects of these Car Makers.

Germany’s big-three premium-brand auto makers are preparing to launch a formal bid to acquire a majority stake in Nokia Corp. ’s Here mapping unit, in a consortium that includes Chinese technology group Baidu Inc. and values Here at “considerably more than €2 billion,” according to people familiar with the situation.

BMW AG , Audi AG , and Daimler AG ’s Mercedes-Benz are usually fierce rivals in the market for luxury automobiles. But they are so worried about Silicon Valley’s ambitions that they are banding together to acquire Nokia’s mapping unit to prevent a technology giant such as Google Inc.,Apple Inc. or Facebook Inc. from gaining control of a key part of the technology needed to run self-driving cars and in-car digital services.

We earlier reported how a number of big firms are interested in HERE and how German Car Makers are pressurizing Nokia against selling HERE to the likes of Facebook and Apple.

Now, if we consider CEO Suri’s statement that Nokia can be sold in part or full, it seems that Nokia may let Car Makers acquire majority stake or may sell only the connected-car business to them. Nokia may still keep a part of HERE either in form of a minority share or may decide to keep the HERE’s consumer & corporate business for itself.

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Nayan

Nayan has more than 10 years of experience of covering Technology and innovations. He is a big Nokia fan and Tech disruptions aficionado. He loves to review new cool gadgets and writing about Android, iOS, Gadgets and general Technology stuff. He has been associated with other well-known Tech sites WinCentral and GadgetOx since long.

He currently sports a Lumia 950 XL and Nexus 5X. Other interests include listening to Nu-Metal Hits and Kick-Boxing.
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