The rumour was that Nokia was readying a $16 billion offer for the California-based networking vendor.
Nokia, however, released a statement directly contradicting the report, stating: “Nokia is not currently in talks with, nor is it preparing an offer for, Juniper Networks related to an acquisition of that company.”
Wall Street had reacted favourably to the potential deal, with Juniper’s share price rocketing over 22 percent. Juniper currently has a market cap of just over $11 billion.
Juniper was saying nothing.
Nokia’s roots are in telecoms infrastructure. In 2016 it reported revenue of over €20 billion.
It is not as if Nokia does not have the previous form for expensive buyouts. Last year the firm acquired Alcatel-Lucent for $16.6 million to boost its manufacturing of mobile equipment, after offloading its mobile phone business to Microsoft in 2014.