Nokia to buy Siemens' share of joint venture NSN

ESPOO, FINLAND and MUNICH, GERMANY – Nokia Corporation and Siemens AG announced Monday that Nokia would buy out Siemens AG’s entire 50% stake in the companies’ telecoms equipment joint venture, Nokia Siemens Networks, for $2.33 billion. The transaction is expected to close during the third calendar quarter of 2013, at which point Nokia Siemens Networks will become a wholly owned subsidiary of Nokia. “With its clear strategic focus and strong leadership team, Nokia Siemens Networks has structurally improved its operational and financial performance. Furthermore, Nokia Siemens Networks has established a clear leadership position in LTE, which provides an attractive growth...