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Nokia to buy out Siemens equipment venture
Posted: 01-Jul-2013 [Source: Reuters]

[Nokia plans to buy out their profitable partnership with Siemens for 1.2 billion euros cash plus another 0.5 billion loan.]

Helsinki -- "Nokia shares surged on Monday after it announced plans to buy out partner Siemans AG's share of their valuable network equipment joint venture, betting on the technology to run 4G networks after it stumbled as a maker of smartphones."

"Loss-making Nokia gains full control of the profitable venture Nokia Siemens Networks (NSN) for $2.2 billion, a cheaper than-expected price, analysts said, although they also noted the acquisition would put pressure on Nokia's balance sheet."

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