Siemens Reportedly Wants To Sell Their 50% Share In Nokia Venture
Siemens is currently in talks with private equity companies about selling their share in the Nokia Siemens Networks venture. Siemens has a 50% share in the Nokia Siemens Networks (NSN) venture that may be worth over €7 billion ($9.3 billion) including debt.
NSN was recently restructured and a number of units were down shut. Thousands of employees were laid off and the company is going to focus on mobile broadband. NSN has LTE network assets that could be worth selling.
Ericsson currently has the lead in the LTE infrastructure market during Q4. NSN gained marketshare against Ericsson.
“We have simply said that we want to create a company that has the strength to be independent and thus to give our parents options. What they then choose to do is an issue solely for them. Beyond that, we won’t comment,” stated an NSN spokesperson as quoted by PCW.