Nokia Mapping Unit Bidding Wars Continues, CEO Rajeev Suri Says 'It's Still Not For Sale'

There's been a lot of buzz about who will acquire Nokia's digital mapping unit. However, it looks like the firm is not in a hurry to sell.

During an interview with European Communications, a business trade magazine, Rajeev Suri, Nokia's CEO explains that while there have been numerous interests the mapping unit is still not for sale.

Telecommunication network tools manufacturer Nokia started a strategic examination of its maps business in April, building in motion an auction process that has made ecommerce firms like Baidu and Uber face off with auto giants, in a transaction that could be valued up to $4 billion.

A business expert said General Atlantic on Thursday would possibly take 30 percent share in the car industry-led consortium, but that the percentage had not yet been verified and could still vary.

An independent source explained that each of three car manufacturers (Volkswagen's Audi, Daimler, Mercedes-Benz and BMW) was ready to invest 700 million euro or $170 million, in the condition that the stakes of each firm were not yet fixed.

On the other hand, CEO Suri declines to comment about the bidders. Investment profits possibly to be muted up to 3.65 percent at 2,361 crore, at 2015ITC Q4. Nokia said there was a sudden drop in networks return and stakes fall, which leads the company not to produce phones for now.

Siri explained, "Let's give it more time... We may not end up selling it if we don't get the right value...It has to be a good competitive deal for Nokia and our shareholders."

Furthermore, as European Communications hints, that could just be strategies to stimulate the bidding more. It is unclear how HERE is suitable with the entire new strategy of Nokia, even if it's still playing with hardware.