- The NYT reports top ride-sharing platform Uber has bid "as much as $3 billion" for Nokia's (NYSE:NOK) HERE mapping/navigation software unit, thereby hoping to top a rival bid being prepped by German automakers and Baidu (NASDAQ:BIDU), and one submitted by a P-E firm.
- Bloomberg previously reported Uber and the automakers were among the firms to show interest in the business after Nokia began shopping it.
- Uber (valued at over $40B in a 2014 funding round) reportedly believes HERE and its proprietary data could further its efforts to provide logistics and ride-sharing services that require advanced geospatial mapping data - the company's apps currently rely on Google Maps. HERE's ~80% share of the in-car navigation system market could also be of interest.
- NOK +1.2% AH to $6.80.
- Earlier: Nokia, Alcatel-Lucent rally following Alcatel's earnings