Rumours regarding mapping arm continue as reports suggest German car makers consortium are preparing bid
Nokia has said it may not sell its mapping arm HERE following the ongoing strategic review which was announced last month.
Speaking at the Finnish firm’s annual shareholders meeting on Tuesday, Nokia chairman Risto Siilasmaa there was no predetermined outcome of the review, which it launched following the announcement of Nokia’s merger with rival Alcatel-Lucent.
“This is the right time for the review, not only because of the Alcatel-Lucent deal but also because navigation markets have changed in the last years,” he said in a speech at the company’s annual general meeting.
“I’d like to stress that the review will not necessarily lead to selling of HERE. We strongly believe in the possibilities to develop HERE also as part of Nokia. Above all, this is a question of finding the best possibilities for HERE to create value.”
Despite this, reports from the Wall Street Journal claim that a consortium of German car manufacturers, including Audi, Mercedes and BMW, are preparing a bid for HERE, which is valued at around £1-2 billion.
Facebook has also been linked with a potential bid, and this week it confirmed that it is testing HERE’s mapping capabilities on its standalone apps including Instagram and Messenger. Neither Facebook nor Nokia would comment on any speculation.