Nokia Is Said to Explore Deal for US Networking Company Infinera

Nokia Oyj is exploring a potential acquisition of Infinera Corp., a maker of optical telecommunications equipment, people familiar with the matter said.

The Helsinki-based communications group has been studying the feasibility of a deal for US-listed Infinera, according to the people. An announcement could come within days, they said.

Shares in Infinera have risen 15% over the last 12 months, giving the company a market value of about $1.2 billion.

Deliberations are ongoing and there’s no certainty they’ll result in a deal, the people said, asking not to be identified discussing confidential information. A representative for Nokia declined to ...