Nokia Siemens buys stake in joint venture

Nokia has released a official press release, Which told about his new acquisition: the Finns decided to buy a 50 percent stake in the company Siemens Nokia Siemens Networks for 1.7 billion euros.

Nokia and Siemens joint venture company established in 2007, is a leader in wireless broadband data. At least, so says Stephen Elop. Due to the fact that all the work was focused on the LTE, Nokia has gone through restructuring Siemens Networks has demonstrated excellent results in the last quarter, bringing profit.

The transaction will be completed after obtaining approval from the regulatory authorities in the third quarter of this year. At the same time it will be declared the new name of Nokia Siemens Networks, which will become a subsidiary by Nokia. Siemens will receive 1.2 billion euros in cash, as well as a loan of 500 million euros.

Market, this information came to mind: Nokia shares rose by 7,1%, Siemens shares rose 2.4%.