Nokia, whose stock has dropped in value by 40% over the past year, saw it leap by 12% on reports last week that it was battling a hostile takeover bid worth about $17.4bn – a price that would come close to being a fire sale, in the wake of the pandemic disruption and Nokia’s own performance problems of late 2019. The company did not comment of course, but the rumors – originating with TMT Finance – said Nokia had hired Citi as advisers to help it fend off a hostile attack. This followed reports in March that the Finnish firm was exploring its strategic options, including potential sale. That report was denied, but there is no doubt that Nokia is…