Ride hailing service Uber is out of the running to acquire Nokia’s Here mapping division, possibly because the price was too high.
The company had made a bid of as much as $3bn for Here but Nokia is apparently looking to get $4bn for it. The only known group to still be a part of the negotiations is the German carmakers consortium.
Nokia’s Here Maps power the onboard navigation and entertainment systems in Audi, BMW and Mercedes-Benz’s cars. Further, the mapping division will be of paramount importance when it comes to self-driving cars.
However, with Uber, Chinese companies Tencent and Baidu, and multiple private equity players now out of the bidding process, the German carmakers have increasingly taken a tough negotiation position with Nokia.