Nokia refutes rumor of Microsoft buyout

“Shares of Microsoft have been under pressure this morning, and one thing appearing to contribute to downturn are rumors the company would step in to purchase Nokia for $19 billion,” Tiernan Ray reports for Barron’s.

“A Nokia spokesperson, however, tells The Wall Street Journal’s Christopher Lawton a short while ago that, ‘These rumors are completely baseless,'” Ray reports. “Well, at least one believer this morning is Brian White with Ticonderoga Securities, who follows Apple (AAPL) and has a Buy rating and a $612 price target on that stock.”

Ray reports, “‘We believe reports from Boy Genius highlighting the potential for a Microsoft purchase of Nokia for $19 billion should provide Apple investors with even greater confidence that the company can continue to gain market share at the expense of legacy vendors in the mobile phone market,’ writes White. ‘In our view, Apple investors could not ask for a better deal, and we believe a transaction would only further Apple’s market share gains in the coming quarters.'”

Read more in the full article here.

[Thanks to MacDailyNews Reader “sleiii” for the heads up.]


  1. ‘These rumors are completely baseless’

    Aha! It must be true then. If you say something is false, you deny the veractiy of the rumor. But if you say something is baseless, what you are saying is that there is nothing upon which to base your rumor. Nothing official, certainly. And that’s completely true. There is no official information that would confirm this rumor. Thus it is not based on anything official. It is baseless.

    But still true. The weasel way of wording it just confirmed it.

    1. “Because that would leave open the chance that Google might swoop in and snap up Nokia, and BY GOD WE CAN’T HAVE THAT!!” said Ballmer, as he slowly reached for a chair.

      1. “Since Freebish was leaning forward on this, let’s have Freebish take the action item. Freebish, why don’t you socialize this within your team, give the home office some reachback, and then make sure nobody has any go-backs. This really seems like a motherhood discussion, so I don’t expect anything more than happy-to-glads on this. If all I hear are heads nodding, then we’ll declare victory and draft some talking points for the pre-meeting. Freebish, I hope the tasker’s pretty clear—get with me offline, and we’ll come up with a good suspense for you. Tremblechin was really shoulder-to-shoulder with me on this—it’s clearly a parking-lot issue, so let’s keep the crosstalk down and re-baseline to something that’s value-added.”

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