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Finland's Nokia closes maps unit sale to German car makers

Finland's Nokia closes maps unit sale to German car makers

Postby smix » Sat Dec 05, 2015 12:18 pm

Finland's Nokia closes maps unit sale to German car makers
Reuters

URL: http://www.reuters.com/article/us-nokia ... J020151204
Category: technologyNews
Published: Fri, 04 Dec 2015 13:57:48 GMT

Description: HELSINKI (Reuters) - Finland's Nokia on Friday said it had completed the sale of its navigation business HERE to German car makers BMW, Audi and Mercedes. Nokia said its net proceeds from the deal would be around 2.55 billion euros ($2.78 billion), in line with its original estimate. The deal was initially estimated to close in the first quarter of 2016. Nokia last year sold its once-dominant mobile phone business to Microsoft, and following the maps deal, it is left with its mainstay telecom network equipment business and patents. Earlier this week, the company's shareholders approved an all-share acquisition of network rival Alcatel-Lucent for 15.6 billion euros, expected to close early next year.
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