Nokia Siemens acquires stake in “Nokia Siemens Networks”




Nokia Siemens acquires stake in “Nokia Siemens Networks”

The value of the deal $ 2.2 billion.

Nokia announced on Monday the acquisition of the stake for Siemens in the company, “Nokia Siemens Networks”, a joint department between the two companies specializing in communications equipment, and after that stood on its partner Siemens stake in the deal amounted to $ 2.2 billion.

Experts believe that the acquisition of these come in pursuit of the company’s Finnish to avoid the losses suffered by with their work with respect to its mobile phones and smartphone operating system Windows Phone from Microsoft, which reported a Nokia during the first quarter of the year 2013 loss was estimated at $ 196 million.

It is noteworthy that the “Nokia Siemens Networks” had achieved alone during the first quarter of this year, an estimated profit of $ 1.2 billion, which represented a 117% increase compared to last year 2012.

Nokia predicted that the deal is complete new acquisitions during the third quarter of the year 2013, and explained that “Nokia Siemens Networks” will be wholly owned by Nokia, will also be renamed, to reveal the new brand of the company pending the completion of the deal.

On his part, said Stephen Ailub, President and CEO of Nokia said in a statement, said, “Nokia Siemens Networks” With a focus on a clear strategy and leadership team is strong, has been able to improve their operational and financial performance, along with, a leadership position achieved by the company in the field of networks fourth generation LTE, which represents an attractive chance of success for companies.

The Ailub added that Nokia feel good about these developments and looks forward to continue to support these efforts in order to create more value to contribute to the Nokia group.

It should be noted that it will be within the framework of the deal between Nokia and Siemens to pay $ 1.57 billion in cash to keep the rest of the reimbursement guaranteed loan Nokia a year after the closing of the transaction.
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