Original URL: http://www.theregister.co.uk/2012/08/01/lenovo_not_buying_nokia/

Lenovo: 'Us, buy Nokia? Surely you jest'

Flushes flap about Finnish phone firm feast as fiction

By Anna Leach

Posted in Financial News, 1st August 2012 16:22 GMT

Lenovo's EMEA chief Gianfranco Lanci has laughed off suggestions that the Chinese computer giant would buy out flailing phone-maker Nokia, dismissing the idea as a "joke".

When asked about rumours that Lenovo was considering swooping on the troubled phone-makers, whose value has plunged in the past two years, Lanci told Reuters: "This must be a joke. There's nothing ongoing."

Nokia has been haemorrhaging market share, and its last set of financial results show little sign of an end to the decline, though some commenters are more hopeful.

Anyway, recent rumours that the Finnish phone maker might be about to get a Chinese sugar daddy sent Nokia shares on an unusual high, setting a seven-day record not seen since 1991, according to Businessweek.

However, it still doesn't look like Lenovo has enough billions spare to pump into the foundering company.

Shares in Nokia have dropped more than 70 per cent in the past year and a half, but the company is currently valued at about €7.2bn. ®