Uber Submits Bid of Up to $3 Billion for Nokia Maps, NYT Reports

HERE Software
An automobile dashboard monitor displays HERE software, the connected driving maps unit of Nokia Oyj, in Berlin. Photographer: Krisztian Bocsi/Bloomberg

Uber Technologies Inc. has submitted a bid for HERE, Nokia Oyj’s maps business, for as much as $3 billion, the New York Times reported, citing people familiar with the matter.

The Uber offer is competing with one in the works from a group of German automakers, including BMW, Audi and Mercedes-Benz, which are teaming up with Chinese Internet search engine Baidu Inc. on the bid, the Times reported.

Espoo, Finland-based Nokia, a communications-equipment maker, is exploring the sale of HERE as it focuses on boosting growth at its wireless-network unit and improving its debt rating, people familiar with the matter told Bloomberg News last month. The people said Nokia had reached out to potential buyers including Uber, a mobile car-booking application, and private equity firms. Nokia was seeking at least 3 billion euros for the unit.

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