According to a Financial Times report, Huawei Technologies Co considers acquiring Nokia. However, this was overthrown after a statement released by the Chinese network equipment and cellphone manufacturer after stating that it had no plans of acquiring the Finish phone maker.

Bill Plummer, the Vice President for external affairs of Huawei Technologies Co denied the report on the FT website.

Last Tuesday, the story was posted on the Financial Times site quoting Huawei's consumer business head Richard Yu having said that the company is in consideration to buy Nokia and the combination of both firms will depend upon the willingness of the Finish phone manufacturer.

Nokia refused to give comments regarding the report.

Nokia's US shares closed up more than 17 cents than the 4% valued at US$3.86 per piece on the New York Stock Exchange. This marked an increase of US$4.12 after the release of the said planned acquisition report.