Nokia shares leap on takeover talk

Shares in Nokia rose by as much as 14 per cent yesterday on speculation that the ailing tech firm will be sold to Chinese electronics giant Lenovo. Lenovo swiftly dismissed the rumours, with a top executive calling the talk “a joke”. Nokia shares fluctuated wildly before closing up 2.5 per cent. “This must be a joke,” Lenovo’s European head Gianfranco Lanci said yesterday. Lenovo recently surpassed the Finnish company as China’s second-largest smartphone manufacturer.