Nokia Stares Down Hostile Takeover Bid

Nokia is fending off a reported hostile takeover attempt that could dramatically alter the wireless network equipment market. The report quickly sent shares of the struggling company up almost 12% and, although those gains have waned since, company stock is still up 48% from a 52-week low it hit last month. “Nokia does not comment on market rumors,” a company spokesperson told SDxCentral.  The hostile takeover bid, which was reported by TMT Finance and cited by Reuters, follows a late February report from Bloomberg that claimed the company was considering potential asset sales or mergers to improve its outlook. Nokia dismissed that report as speculative at the time and declined to comment further.