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Nokia CEO rubbishes Microsoft buyout rumours

Nokia CEO rubbishes Microsoft buyout rumours

Reports that Microsoft is negotiating to buy Nokia have been rebuffed by the Finnish phone maker’s Chief Executive Stephen Elop.

Speculation that Nokia is a takeover target for its Windows Phone 7 partner emerged earlier this month. The rumours stemmed from super-connected mobile industry maven Eldar Murtazin who claimed that the parties were to begin hammering out terms last week and that a $19 billion acquisition could be complete before the end of the year.

However, addressing crowds at the D9 expo in Los Angeles yesterday, Elop rubbished the rumours and claimed that the move would make scant business sense for Microsoft.

He said: “There's absolutely no discussion. The rumours are baseless. It is as clear as that.”

Elop went on to claim that acquiring Nokia was not compatible with Microsoft’s business strategy and positioning in the market.

This is principally because Nokia’s product portfolio of lower end, feature phones wouldn’t support Windows Phone 7 so wouldn’t help Microsoft in its quest to raise its market share, he added.

Murtazin has since damned Nokia’s refusal to acknowledge his claims on Twitter, claiming that Microsoft’s head honcho Steve Balmer and Elop met last week to mull over the takeover.

Source:

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