Photographer: Tomi Setala/Bloomberg

Nokia Denies It's in Acquisition Talks With Juniper Networks

Nokia Oyj denied that it’s in acquisition talks with Juniper Networks Inc., after a CNBC report said the Finnish company was preparing a $16 billion offer for the network-equipment maker.

"Nokia is not currently in talks with, nor is it preparing an offer for, Juniper Networks related to an acquisition of that company," the telecommunications company said in a statement late Wednesday New York time.

Juniper shares, which had jumped as much as 25 percent in extended trading based on the report, pared almost all those gains after Nokia’s statement.

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