Rumors about Nokia hostile takeover causes stock price surge
Nokia shares weren’t looking good since October 2019, but their price suddenly improved in a single afternoon. The price isn’t that good, but it did start some speculations about some kind of hostile takeover or a strategic merger deal that might be commencing.
According to the TMT Finance, Nokia was working with an investment bank to defend itself from a hostile takeover. This reflected on a price of Nokia’s stocks.
Back in February, Bloomberg did start a rumor of a strategic merger, but shortly after Reuters denied everything that Bloomberg mentioned.
Nokia is fighting for a better 5G position with Ericsson and Huawei, and it is doing well, but the fight isn’t over yet, and 2020 will be tough since Huawei is still standing strong despite the US-China trade war. However, Nokia is starting this year with a new CEO, and according to the current situation with the COVID-19 pandemic, it is difficult to see how things are going to develop.
The highest price of Nokia shares today was €3.39, and currently, the price has stopped at €3.15. Nokia didn’t comment on the sudden stock price surge, but in the coming days maybe it will.
