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Nokia rumoured to be circling Palm

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Nokia rumoured to be circling Palm

It has been rumoured that Nokia might be interested in buying Palm after the shares has jumped 13%.

Shares in Palm jumped 13% in Frankfurt today on the back of rumours that Nokia may buy the Californian handset manufacturer.

Further speculation that investors will like Palm’s planned stock offering gave the US mobile manufacturer’s shares additional momentum.

Both Nokia and Palm declined to comment on the rumours.

US analysts said any deal between the two would give Nokia a firmer foothold in the US market and give Palm greater financial muscle. Nokia has been looking to break into the US market for sometime, where it has less than 10% share compared to 40% globally.

Could this be a good move by Nokia? Your thoughts...

[Via: Mobile Magazine Exec]

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