Deals
Nokia Takeover Seen as Collapsing Shares Signal Bottom: Real M&A
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Nokia Oyj’s steepest stock drop in more than a decade is turning the mobile-device maker into a potential takeover target for buyers willing to bet that it still has a future in smartphones.
Nokia plunged 18 percent yesterday after forecasting a wider second-quarter operating loss from handsets and saying it will cut as many as 10,000 jobs as it cedes market share to Apple Inc.’s iPhone and Samsung Electronics Co. devices. After wiping out about $100 billion in market value, Espoo, Finland-based Nokia trades at a 38 percent discount to its net assets, the least expensive on record, according to data compiled by Bloomberg dating back to 1995.