The Finnish telecommunications company said the acquisition would help Nokia gain market share in network implementation.
Shares of Nokia are up 0.59% to $7.66 in mid-morning trading on Wednesday.
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Rising wages and a push to spur consumption have made China less attractive as a production site. Manufacturers are looking South and East as a result, as investors should note.
Withholding royalty payments to Qualcomm's contractors creates some medium-term risks for Apple's margins, according to one analyst.
A heavy presence of gold miners helped British stocks keep out of the red on Tuesday while banks and politics weighed elsewhere.