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Nokia considers sale of maps business Here - report

2015-04-13 08:43:00| Telecompaper Headlines

(Telecompaper) Nokia is exploring the sale of its maps business Here in order to focus on mobile network equipment, people familiar with the matter told Bloomberg. Nokia has reached out to potential buyers including Uber and private-equity firms, the report said. A group of German carmakers has also shown interest, and bids for the unit are expected as soon as this month. Here is valued at about EUR 2 billion, according to Nokia's financial reports. The company reported annual sales of EUR 970 million and an operating loss of EUR 1.24 billion in 2014. Proceeds from a sale of the business could go towards reducing debt and acquisitions to strengthen the core business. 

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