HELSINKI (Reuters) - Nokia NOK1V.HE is in no hurry to sell its mapping unit HERE despite receiving high quality bids, the Finnish company’s chief executive said in a trade magazine interview.
Telecoms network equipment maker Nokia began a strategic review of its maps business last month, setting in motion an auction process that has pitted Internet players like Uber and Baidu (BIDU.O) against German carmakers in a deal that could be worth up to $4 billion.
While declining to comment on bidders, Chief Executive Rajeev Suri acknowledged in trade magazine European Communications that the unit had attracted “significant interest”, and said the quality of the bids was better than expected.
But he added: “Let’s give it more time...We may not end up selling it if we don’t get the right value. It has to be a good competitive deal for Nokia and our shareholders.”
Reporting by Jussi Rosendahl; Editing by Ahmed Aboulenein and Susan Thomas