Siemens (SI) Said to Push Hard for NSN Exit (NOK) (ALU)
Tweet
Share
E-mailGet Alerts SI Hot Sheet
Join SI Premium – FREE
Nokia Oyj (NYSE: NOK) and Siemens AG (NYSE: SI) are getting close to ending the Nokia Siemens Networks joint venture, a six year old effort in the telecom-equipment segment. The move comes as Siemens is pushing harder for an exit, Bloomberg noted Thursday.
Under one scenario, Nokia and Alcatel (NYSE: ALU) may buyout Siemens' 50 percent stake in NSN.
Talks have accelerated with shareholder agreement coming up for renewal in April.
Total enterprise value on NSN is about $13.4 billion.
Siemens has its hands in several markets and is said to be refocusing on the more profitable efforts. Names like NSN and Alcatel have come under pressure as European telecoms have cut CapEx and Chinese rivals have moved to undercut on equipment pricing.
Both Nokia and Siemens are lower on Thursday's session.
Under one scenario, Nokia and Alcatel (NYSE: ALU) may buyout Siemens' 50 percent stake in NSN.
Talks have accelerated with shareholder agreement coming up for renewal in April.
Total enterprise value on NSN is about $13.4 billion.
Siemens has its hands in several markets and is said to be refocusing on the more profitable efforts. Names like NSN and Alcatel have come under pressure as European telecoms have cut CapEx and Chinese rivals have moved to undercut on equipment pricing.
Both Nokia and Siemens are lower on Thursday's session.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bernstein on whether Hershey (HSY) could eventually step up to buy Mondelez (MDLZ)
- Oracle Has Drawn Up Plans For A New Round Of Layoffs - Insider
- Alibabato sell Lingxi Games in more than $2B deal - Reuters
Create E-mail Alert Related Categories
Insiders' Blog, RumorsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
