Nokia is considering sale of its maps business

Nokia on Wednesday confirmed it had started a strategic review of its map business, HERE, after announcing a takeover of network equipment rival Alcatel-Lucent.

"The Board of Directors of Nokia believes this is the right moment to assess the position of HERE within the proposed new Nokia business," the company said in a statement, adding that the review may or may not result in any deal.

A source told Reuters on Friday that Nokia had hired a financial adviser to explore a sale of the unit.

The unit is estimated to be worth 4.4 billion to 6.9 billion euros, based on a sum-of-parts calculation, according to Inderes Equity Research.

(Reuters)