Nokia (NOK +5.7%) has refused comment on a report that it's hired an investment bank to help defend it from a hostile takeover.
The Finnish telecom is said to have hired Citi to fight back against a multibillion-dollar deal from private equity to take over some or all of the company, according to TMT Finance.
If true, those suitors might include KKR, Apollo (NYSE:APO) or Blackstone (NYSE:BX).
Nokia has also denied reports this year that it was exploring strategic options. http://seekingalpha.com/news/3561446-nokia-no-comments-report-hired-citi-to-fight-takeover