© mopic General | April 13, 2015

Nokia looking to sell HERE business?

Finnish Nokia is reportedly exploring opportunities to sell its maps business – also know as HERE – as the company focuses on growth at its wireless-network unit.
In order to improve its debt rating as well as focusing on growth for its wireless-network business, Nokia is looking at the possibility of selling its maps business, sources familiar with the matter informed Bloomberg.

The Finnish equipment maker is said to have reached out to potential buyers for its maps business, which is valued at some EUR 2 billion according to the company's financial reports, which suggests a decline in value since 2008 when Nokia acquired map provider Navteq Corp. for USD 8.1 billion.

Among the potential buyers the source mentioned Uber Technologies, private-equity firms as well as a group of German carmakers. Bids for the unit are are expected as soon as this month, the sources told Bloomberg.


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