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Nokia in talks to buy Juniper Networks - CNBC

Reuters

(Reuters) - Finnish network equipment maker Nokia (NOKIA.HE) is in talks to buy Juniper Networks Inc (JNPR.N), CNBC reported on Wednesday, citing sources.

The offer would value the U.S. network gear maker at around $16 billion (£11.93 billion), CNBC said, citing one of the sources. Juniper had a market capitalisation of around $11.26 billion as of Wednesday's close.

The Sunnyvale, California-based company's shares soared 18 percent to $35 in extended trading.

Nokia has been building its telecom equipment business after it sold its mobile phone unit to Microsoft Corp (MSFT.O).

It bought Alcatel-Lucent for about $17 billion last year that gave it a larger fixed-line network business and made it less dependent on mobile broadband.

Juniper and Nokia were not immediately available for comments.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D'Silva)