Nokia may buy Siemens’ 50% stake in NSN for $2.6 billion
According to Telecomlead Nokia will buy Siemens AG’s 50 percent stake in Nokia Siemens Networks, its telecom equipment joint venture, for $2.6 billion.
Nokia will use a bridge loan to help finance the purchase. The deal will end speculation that the phone major would seek to exit from the loss making Nokia Siemens Networks.
Nokia Siemens Networks has posted 5 percent drop in Q1 2013 revenue to €2.804 billion from €2.947 billion in Q1 2012. Its operating margin in the second quarter of 2013 will be approximately positive 5 percent, plus or minus four percentage points.