LONDON – The price of shares in mobile phone company Nokia Oy was volatile amid heavy trading on Wednesday amid rumors that the company might be bought by Chinese computer maker Lenovo.
"This must be a joke," and "There's nothing ongoing," Reuters quoted Gianfranco Lanci, Lenovo head of Europe, Middle East and Africa, as saying. Nonetheless Nokia's shares closed up at 2.07 euro at the close on Wednesday.
Nokia was once comfortably the leading mobile phone maker but it was caught out by the rapid change to touchscreens and smartphones that have catapulted Samsung and Apple to the top of the heap.
Nokia shares have dropped by more than 70 percent since the company was at its peak value.
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