A report has been released claiming Nokia is considering purchasing U.S.-based Juniper Networks to merge into its telecommunications network gear business, according Reuters, citing German's Manager Magazin Online.

Nokia Solutions and Networks Chief Executive Rajeev Suri reportedly traveled to the U.S. in late 2013 to talk with Juniper's management about a possible merger that would support NSN's U.S. business.

Juniper has a stock market value of $13.7 billion, meaning it would be a big takeover target for Nokia.

Manager Magazin also reported that Nokia could use Juniper's $3.1 billion cash in order to finance the purchase as well, according to Reuters.

A source familiar with story said a deal is far from imminent, according Reuters.

NSN would then be Nokia's primary operation once the sale of its Devices and Services business to Microsoft is complete, which is expected to take place sometime in March.

The deal is worth $7.4 billion.

Nokia, NSN and Juniper have declined to comment the report so far.

Juniper and NSN are already in a partnership to develop and sell network equipment, according to Reuters.

Nokia's former Chief Executive Stephen Elop, who is set to return to Microsoft once the deal is complete, was COO of Juniper in 2007.

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