Nokia Shares Surges About 17% On Lenovo Buyout Rumors

Nokia’s shares surged more than 17% on Wednesday morning as there were rumors that Lenovo may be buying Nokia. The rumor was that Lenovo which is also a PC and Smartphone OEM might be interested in Nokia as they are trading near their all time low stock price. But Gianfranco Lanci, who runs Lenovo’s operations in Europe, Middle East and Africa told Reuters that “This must be a joke,”, “There’s nothing ongoing.”. Even though the buyout rumors were quashed for now, these kind of things keep Nokia’s stock well alive.

Source: Reuters

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