Nokia Shares Settle After Huawei Comments
Gains in Nokia stock were diminished today after Chinese equipment and cellphone maker Huawei denied reports that it was looking to buy the Finnish OEM.
A Financial Times report quoted Richard Yu, chairman of Huawei's consumer business group, as saying his company was "considering these sorts of acquisitions; maybe the combination has some synergies but depends on the willingness of Nokia. We are open-minded.”
Yu's comments came ahead of the company's London launch even for its latest flahship smarpthone, the Ascend P6.
Shares of Nokia yesteday hit a daily high of $4.12, up from an opening of $3.69. By the afternoon, Huawei had refuted the comments, and Nokia shares had settled back down to today's opening price of $3.86.
Huawei said in an official statement that it "has no plans to acquire Nokia," according to a Reuters report.