Copying and distributing are prohibited without permission of the publisher
Nokia and Siemens consider JV buyout
31 August 2010
Reports suggest that the owners of Nokia Siemens Networks are talking to private equity companies about a stake
Read more:
Nokia
Siemens
Nokia Siemens Networks
NSN
private equity
Blackstone
TPG
Silver Lake Partners
Bain Capital
Nokia and Siemens are looking to sell their stake in Nokia Siemens Networks to private equity firms, according to reports citing well informed sources at the owners. Interested companies are said to include Blackstone, TPG, Silver Lake Partners and Bain Capital.
The deal, which may be worth up to $1 billion, will raise the possibility of an eventual initial public offering in NSN.
Nokia and Siemens, which are not seeking an early exit from their joint venture, will continue to be major shareholders of NSN after the stake sale, say the reports.
The 50-50 joint venture, which was set up in 2007, lost $2 billion in 2009. The initial joint-venture accord expires in 2013. In July 2010, NSN agreed to buy Motorola’s network-equipment business for $1.2 billion. GTB