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Nokia Rises on Report Huawei Considering Acquisition

Nokia Oyj pared a 12 percent surge in U.S. trading after Chinese telecommunications company Huawei Technologies Co. refuted a report that it was interested in acquiring the struggling Finnish handset maker.

Nokia’s American depositary receipts rose 4.6 percent to $3.86 at the close in New York yesterday. Earlier, they had jumped as high as $4.12 after the Financial Times reported that Huawei is “considering these sorts of acquisitions,” according to Richard Yu, head of the company’s consumer business. He said a combination with Nokia would have “some synergies,” according to the FT.