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Nokia Rises After Report of Microsoft Interest in Phone Unit

Nokia Oyj gained after a report that it held talks to sell its mobile-phone business to Microsoft Corp., signaling the Finnish handset manufacturer may be open to asset disposals as part of its turnaround effort.

Nokia Oyj rose as much as 4.1 percent in Helsinki trading after the Wall Street Journal reported on the talks. According to the newspaper, the two sides made “significant progress” on a plan to combine Microsoft with Nokia’s phone business, though the discussions have since faltered.