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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
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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