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Siemens enterprise unit plans US IPO
09 March 2012
Share sale by Siemens Enterprise Communications could be used to fund acquisition, says CEO
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Siemens
Enterprise Communications
private equity
flotation
IPO
Hamid Akhavan, CEO of Siemens Enterprise Communications, says the company is aiming for a share flotation by the end of 2012.
Akhavan, a former COO of Deutsche Telekom and CEO of its T-Mobile International, told Reuters that the company is looking for an IPO in the US, where he believes technology stocks are likely to get a better valuation than similar companies in Europe.
Speaking at the CeBIT technology fair in Hanover, he said: “We could use the shares as currency for an acquisition.”
Siemens Enterprise Communications is 49% owned by the Siemens group, which separately owns 50% of Nokia Siemens Networks. The other 51% in SEC is owned by private equity firm Gores Group. GTB
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