NOKIA EXPLORES DEAL FOR US NETWORKING COMPANY INFINERA
(Bloomberg) -- Nokia Oyj is exploring a potential acquisition of Infinera Corp., a maker of optical telecommunications equipment, people familiar with the matter said.
The Helsinki-based communications group has been studying the feasibility of a deal for US-listed Infinera, according to the people. An announcement could come within days, they said.
Shares in Infinera have risen 15% over the last 12 months, giving the company a market value of about $1.2 billion.
Deliberations are ongoing and there’s no certainty they’ll result in a deal, the people said, asking not to be identified discussing confidential information. A representative for Nokia declined to comment, while a spokesperson for Infinera couldn’t immediately be reached for comment.
Based in San Jose, California, Infinera provides networking hardware and software to mobile phone operators, Internet content providers and governments, among others, according to its website. The company is led by Chief Executive Officer David Heard.
--With assistance from Dinesh Nair.
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2024-06-27T20:36:05Z dg43tfdfdgfd
