Nokia Siemens Networks Confirms Capital Search
Nokia and Siemens have confirmed to the Financial Times that they are seeking investment partners for their shared Nokia Siemens Networks venture. "We are always willing to talk to those who want to bring ideas and capital to the industry," Nokia's Chief Financial Officer Timo Ihamuotila told the Financial Times. Nokia and Siemens have an agreement in place to co-operate the joint venture through 2013 and that won't change despite the addition of capital from an outside firm. Nokia Siemens hopes to bring in about $1 billion in additional funding through the investment from a private organization. Earlier this year, Nokia Siemens Networks agreed to purchase some of Motorola's wireless networking assets for $1.2 billion. Soon after that, the Wall Street Journal reported that Nokia Siemens was seeking capital from investment firms. The Financial Times report confirms the earlier Journal report.