(Bloomberg) – Uber Technologies Inc. has submitted a bid for HERE, Nokia Oyj's maps business, for as much as $3 billion, the New York Times reported, citing people familiar with the matter.
|The Uber offer is competing with one in the works from a group of German automakers, including BMW, Audi and Mercedes- Benz, which are teaming up with Chinese Internet search engine Baidu Inc. on the bid, the Times reported.
|Espoo, Finland-based Nokia, a communications-equipment maker, is exploring the sale of HERE as it focuses on boosting growth at its wireless-network unit and improving its debt rating, people familiar with the matter told Bloomberg News last month. The people said Nokia had reached out to potential buyers including Uber, a mobile car-booking application, and private equity firms. Nokia was seeking at least 3 billion euros for the unit.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
