Finnish mobile manufacturer Nokia has dismissed reports that Cisco is planning to buy its business.
A London newspaper reported yesterday that the company was eyeing Nokia in a bid to gain its wireless infrastructure technology.
However, a spokeswoman for Nokia described the reports as "pure fabrication based on rumours on the Internet".
The Businesspaper said Cisco's mainstay networking market was changing fast with the convergence of fixed-line and wireless networks, and the company needed to acquire the technology for intelligent wireless applications, which Finnish-based Nokia could provide.
It did not reveal its sources, and both Cisco and Nokia had declined to comment on the report.
Cisco, the largest maker of Internet equipment, is worth about $123 billion; Nokia's market value is around $71 billion.
The talk of takeover bids boosted Nokia's shares today, with the mobile phone maker opening more than 2 per cent higher on the Helsinki bourse.
