Nokia denies rumors of buying Juniper for $16 billion

CNBC posted fake news this week, saying that, according to their sources, Nokia is preparing a 16 billion dollars heavy bid for Juniper Networks, a US-based telecommunications company. Nokia, contrary to its praxis of commenting rumors, posted an official response via a press release.

Nokia comments on rumors related to Juniper Networks

Espoo, Finland – While Nokia does not typically comment on market rumors, given the specificity of press reports related to a potential acquisition of Juniper Networks, the company issued the following statement: “Nokia is not currently in talks with, nor is it preparing an offer for, Juniper Networks related to an acquisition of that company.”

This CNBC rumor caused a 25% increase in Junipers share price, that quickly went down after Nokia denied the rumors. It’s interesting that Nokia’s response denied even talking to Juniper. I’m no financial expert, but a big merger or acquisition in the telecommunications infrastructure market is very likely in the near future, considering the market shift towards cloud and the Chinese rising telco giants like Huawei and ZTE.

Source: Nokia