Contest for Nokia’s here Maps Unit seen as a 3-manner Race

Contest for Nokia's Here Maps Unit Seen as a 3-Way Race

the contest for Nokia’s maps enterprise has come to be a 3manner race between German carmakers, a consortium which includes Uber and Baidu, and a third organization which include China’s Tencent and Navinfo, humans acquainted with the method said.

Finland’s Nokia has commenced an auction of its maps enterprise right here at the same time as it completes its 15.6 billion euros ($17.2 billion) takeover of network equipment maker Alcatel Lucent.

German automakers Daimler, BMW and Volkswagen’s premium emblem Audi have teamed up with personalequity company wellknown Atlantic to shape what is being defined as theindustry consortium”, assetsfamiliar with the problem told Reuters on Thursday.

Nokia, Daimler, BMW and general Atlantic declined to comment.

The automakers have agreed to contribute doubtlessly extra than seven-hundred million euros, but below1 billion euros, stated one car industry supply, who declined to be named. The consortium can be widened to consist of extra carmakers, the source brought.

every other institution consists of chinese language media, cellular and internet services firm Tencent Holdings, chinese language map maker Navinfo Co., and Swedish buyout firm EQT partners AB, 3 sourceswho declined to be named said.

Navinfo and Tencent had been now not immediately to be had for comment. EQT declined to remark.

private fairness firm Apax has joined U.S.-primarily based taxi service Uber and China’s Baidu in a thirdconsortium, a economic source who declined to be named stated.

Apax and Uber declined to remark. Baidu was not at once available for remark.

Analysts positioned the ability value of here at 2 billion euros to four billion euros.

Audi R&D boss Ulrich Hackenberg on Friday stated he ought to believe adding more companions to the consortium headed by using luxury carmakers.

there are many possibilities, it is nonetheless too early,” Hackenberg stated.

Nokia is in no hurry to sell right here regardless of receiving high excellent bids, the Finnishorganization‘s chief govt said in a trade magazine interview.

© Thomson Reuters 2015

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Tags: Apps, Baidu, Carmakers, German, right here, right here Maps, Intenret, Nokia, Nokia here Maps, Uber