Nokia says it's not in talks to buy Juniper Networks

Nokia has denied that it is in talks to buy Juniper Networks following a report suggesting it was preparing a bid for the group.

"Nokia is not currently in talks with, nor is it preparing an offer for, Juniper Networks related to an acquisition of that company," it said on Thursday.

Shares in the Finnish network equipment maker jumped on Wednesday after CNBC cited sources as saying that it was readying a $16bn bid for its California-based rival.

Nokia bought French rival Alcatel-Lucent last year for about $17bn.

RBC Capital Markets said on Wednesday - before Nokia denied the report - that consolidation of the industry makes sense.

"From a financial and strategic perspective we think a Nokia/ Juniper transaction could work if a synergies lead to material earnings per share upside in 2019/2020 during the 5G rollout."

At 1110 GMT, Nokia shares were up 0.1% to €4.22.