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Nokia may drop Here sale if price not right
2015-05-25 09:01:00| Telecompaper Headlines
(Telecompaper) Nokia may not sell its Here mapping unit if it doesn't attract the right price, according to Nokia CEO Rajeev Suri. In an interview with European Communications, he confirmed that the subsidiary has attracted "significant interest", but would not say who the bidders are. He did say that the quality of the bids is better than expected, but adds: "Let's give it more time We may not end up selling it if we don't get the right value." Suri confirmed the company's focus going forward will be networks. He also discussed integration plans for the planned merger with Alcatel-Lucent, saying Alcatel's submarine cable business will not be part of the new company. It will likely be sold or spun off as part of the merger with Nokia, Suri said. Nokia as the acquiring company will take the lead in the integration process with Alcatel-Lucent, which Suri expects to move quickly in the first 100 days. Nokia's "corporate culture, headquarters and values" will be implemented across the merged group, he said, noting a mistake was made at Nokia Siemens Networks to try and work with both the Nokia and Siemens' cultures.
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Category:Telecommunications
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