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BMW, Audi and Mercedes-Benz are ready to buy Nokia Here
08.05.2021 [10:04],
Sergey Yurtaykin

Although Nokia has not yet decided on the future of its cartographic division, rumors continue to circulate in the media about the sale of the asset. This time it became known about the interest in the Finnish business from the Chinese search engine Baidu and the “big three” German automakers.

According to the Wall Street Journal (WSJ), citing knowledgeable sources, a consortium of investors including Baidu, BMW, Audi and Daimler AG (which owns the Mercedes-Benz brand) is preparing to make Nokia a formal offer to buy the Here division for an amount exceeding € 2 billion “. Equity Research analysts estimate this structure at € 4.4-6.9 billion.

According to the publication, the German auto giants are concerned that Nokia Here, as a key element in the creation of self-driving cars and car services, could fall into the hands of technology companies such as Google, Apple and Facebook. BMW, Audi and Mercedes-Benz even threatened Nokia to stop using Here cards if they were sold to other companies, but then eased the pressure for fear of collusion charges, the source said.

appleinsider.com

The WSJ writes that the auto makers and other consortium members are currently well advanced in negotiations with Nokia, and the deal is likely to be concluded in the next two weeks. The terms of the agreement, including the allocation of shares in Here and the final purchase price, are still under discussion.

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