Reuters: Global Markets: Nokia shares jump on talk of Lenovo interest

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Nokia shares jump on talk of Lenovo interest Aug 1st 2012, 09:38 Tweet Share this Email Print Related News Nokia scraps phone software to conserve cash: sources Thu, Jul 26 2012 Nokia's cash reserves hold up despite big loss Thu, Jul 19 2012 Instant View: Nokia holds more cash than feared, posts steep loss Thu, Jul 19 2012 Intel forecast portends weak PC sales Tue, Jul 17 2012 Nokia price cut worries investors ahead of Q2 results Mon, Jul 16 2012 Related Topics Hot Stocks » Asian Markets » Illustration picture shows Nokia logo on used cell phone, in Zurich, April 30, 2012. Credit: Reuters/Christian Hartmann HELSINKI | Wed Aug 1, 2012 5:38am EDT HELSINKI (Reuters) - Shares in Nokia (NOK1V.HE) surged 11 percent on Wednesday in heavy volumes, with traders and analysts citing talk that Chinese PC maker Lenovo (0992.HK) may be interested in the struggling Finnish cellphone maker. Nokia declined to comment. Lenovo was not immediately available for comment. Nokia shares have dropped more than 70 percent since it unveiled a strategy shift in February 2011 and the speculations of possible takeover bids have made rounds through the year. Volumes in Nokia were at nearly double the 90-day daily average by 0925 GMT, against just 25 percent traded on the pan-European FTSEurorfirst index .FTEU3, which was up 0.2 percent. "It's the Lenovo rumor," said one analyst, who wished to remain anonymous. (Reporting By Tarmo Virki; Editing by Toni Vorobyova) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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