Nokia is looking for companies to buy their HERE mapping unit. It is reported that the price tag for selling the unit is for $4 billion with final bid due this week. It seems like the Finnish company is leaning towards to a group of German car manufacturers such as Audi, Daimler, BMW as the buyers. However, nothing can be confirmed as of now. Nokia even could be selling the unit for different bidder.
There are a lot of companies which are interested in buying the unit. One of them is Baidu Inc which previously had teamed up with Apax and Uber Technologies Inc. Baidu Inc is the largest search engine in China and the company may need the mapping technology in case if they want to expand their business in China. Other companies include Tencent Holdings Ltd (China), NavInfo Co. and EQT Partners AB (Swedish) as well as Hellman & Friedman, Silver Lake Management and Thoma Bravo. The last three companies are U.S private equity firms. It seems like even Microsoft and Apple is also interested in buying the mapping unit.
There is no official announcement from Nokia regarding this matter. Nokia shares fell 1.4 percent to 6.24 euros at 11:12 a.m. in Helsinki.