Nokia might sell its maps unit

Reuters News
Posted: Apr 15, 2015 1:48 AM

HELSINKI (Reuters) - Finland's Nokia on Wednesday confirmed it had started a strategic review of its map business, HERE, after announcing a takeover of network equipment rival Alcatel-Lucent.

"The Board of Directors of Nokia believes this isthe right moment to assess the position of HERE within theproposed new Nokia business," the company said in a statement, adding that the review may or may not result in any deal.

A source told Reuters on Friday that Nokia had hired a financial adviser to explore a sale of the unit.

The unit is estimated to be worth 4.4 billion euros ($4.68 billion) to 6.9 billion euros ($7.34 billion), based on a sum-of-parts calculation, according to Inderes Equity Research.

(Reporting by Jussi Rosendahl; Editing by Clarence Fernandez)