It occurred to me that there might be index changes… that Nokia could be rejoining the Euro Stoxx 50 index. In that case, nothing else would matter, only purchases would need to be made. 
I haven’t checked this, not even when the index change date is – but it seems like someone is buying like crazy. This doesn’t quite fit into short-term fundamentals, especially since other companies in the sector haven’t surged, to my knowledge, in the last two trading days. Options traders could be another alternative – for years, this seemed to work in the other direction. So, for my part, this is pure speculation.
Edit: In my opinion, the current pricing could roughly be justified by Nokia’s potential earnings level in 2028-2030. However, quite a lot of front-loading is happening now. 