According to Automotive News Europe, there are at least three groups who have clearly expressed their desire to buy HERE: the three aforementioned German premium marques, a consortium which includes Uber and China-based Baidu, along with a third group led by Tencent, a Chinese online media company and social network.
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Negotiations between the German firms and Nokia have not broken down but are at a delicate stage, said one source.
HERE is thought to be worth between €2 billion and €4 billion.
FRANKFURT Germany’s large auto makers have obtained a stand-off with Nokia in their ealier shared bid to purchase the Finnish organizations maps business HERE, despite the fact that challenge offers you seem like untangling, sources popular with the procedure said. That advanced technology of self-driving cars heavily relies on detailed maps that help the software create driving routes.
BMW, Daimler and Volkswagen are all customers of HERE’s maps. Others have signalled they want to “join the winning bid” and are flexible about their allegiance, another financial source familiar with the matter said. That could compromise their access to high-definition maps, potentially slowing their ability to expand in the area of connected cars, which Exane BNP Paribas says could grow into a $50 billion market.
A consortium of German carmakers may be the only serious contender left in the contest to acquire Nokia’s Here mapping unit.
However, according to Reuters, with rival offers falling away – Uber has reportedly dropped out of the race for Here – German carmakers are under less pressure to pay top dollar for Nokia’s mapping assets.
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Uber and Baidu, backed by Apax, were reportedly teaming up on a joint bid for Here.
