Nokia assumes control of NSN

Finnish equipment vendor Nokia has agreed to purchase the 50% stake it does not already own in joint venture Nokia Siemens Networks from partner Siemens for €1.7bn, with the deal expected to close in the third quarter of this year.

Discussing the reasons for the purchase, Nokia CEO Stephen Elop mentioned progress made by NSN in its operational and financial performance, and its “clear leadership position in LTE, which provides an attractive growth opportunity”.

Under the terms of the agreement, the Siemens name will be phased out from NSN’s company name and branding, with new versions expected to be announced when the transaction is completed later this year.

The joint venture (established in 2007) will retain its operational headquarters in Finland, and will continue to have a strong regional presence in Germany, including its major hub in Munich.

For its part, Siemens says that it will now focus on its core business areas of energy management, industry, infrastructure and healthcare.

We welcome reader discussion and request that you please comment using an authentic name. Comments will appear on the live site as soon as they are approved by the moderator (within 24 hours). Spam, promotional and derogatory comments will not be approved

Post your comment

Facebook, Instagram and Sky case study: Game of Thrones

BT at IBC: 'unlocking the power of fibre IPTV'

IP&TV News tries out 4G Broadcast at the FA Cup Final

Thomas Riedl: “Google TV has evolved into Android TV”

Tesco and blinkbox: what went wrong?

Reed Hastings and 2030: is he right?