With all the interest in Yahoo Inc these days, we took the opportunity to ask Nokia CFO Rick Simonson at the Reuters Global Technology, Media and Telecoms Summit if the world’s largest mobile phone maker would be interested in buying Yahoo. He laughed and joked that of all the questions we could have asked him, this was one he didn’t see coming. Then he goes on to say:
We’ve not been involved obviously in Yahoo. We’re focused on closing the acquisition with Navteq …
We’re not out in the desert trying to invent a search algorithm that’s better than Google or Yahoo’s for instance. They’ve got some scale there we don’t have.
As it is, Nokia doesn’t see returns from its investment in Internet services until about 2010. But at least it’s only earmarking hundreds of millions of euros a year on the project — far short of the last price tag of $47.5 billion that Microsoft last offered for all of Yahoo.