Report: Nokia to buy out Siemens half in joint venture deal
Well, it looks like there’s some good news coming out of Finland tonight, as Bloomberg is reporting that Nokia has agreed to buy out the half of the joint-venture from Siemens. Nokia-Siemens Networks had been losing money until recently and Siemens had wanted to get away from the deal, so it’s not too much of a surprise that Nokia would pick up the now profitable division.
The sale price is reportedly “less than 2 billion euros ($2.6 billion)” and Nokia will use a bridge loan to help finance the purchase, in a deal that some investors will welcome while others may frown upon due to the tight purse strings already at the struggling smartphone maker.
via Windows Phone Central - News - Forums - Reviews - Help for Windows Phone http://www.wpcentral.com/report-nokia-buyout-siemens-half-joint-venture-deal
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