Nokia reportedly agrees to buy Siemens’ stake in joint venture
Nokia has agreed to purchase Siemens’ stake in Nokia Siemens Networks, the companies’ joint venture, according to a Bloomberg report. Nokia could announce as early as Monday to purchase Siemens’ 50 percent take in the joint venture for less than $2.6 billion, sources told Bloomberg. CNET has contacted Nokia and Bloomberg for comment and will update this report when we learn more. The company — a joint venture of Finnish handset maker Nokia and Germany’s Siemens formed in 2007 — has struggled for profits in the face of the economic downturn and increasing competition. To improve…
Read more here: Nokia reportedly agrees to buy Siemens’ stake in joint venture
Recent Comments