Nokia has denied the rumors for acquisition of Juniper Networks

NokiaThe Finnish telecom equipment provider Nokia has denied the rumors that the company is in talks to acquire its US rival Juniper Networks and that the transaction will cost several billion dollars. Nokia is not preparing an offer for acquisition of Juniper.

“Although Nokia is not commenting on market rumors, because of the specifics of media reports for a potential deal for Juniper Networks, the company makes the following statement: Nokia is not currently discussing or preparing to offer Juniper Networks a deal to acquire this company”, says the Finnish telecom equipment provider Nokia in a statement.

Earlier, the US economic media reported that Nokia has been eyeing Juniper and valuing its rival for about 16 billion USD. The Juniper’s market capitalization reached 11.26 billion USD at the end of the Wednesday session. In the post-election session, its share price was shot at 18%. So far, Juniper has not commented on the subject.

After the sale of its mobile business to Microsoft, the Finnish company mainly develops its telecom equipment business. Last year, it acquired Alcatel-Lucent for about 17 billion USD to compete better with Swedish Ericsson and China’s Huawei on a market where limited growth and strong competition suppressed prices.