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Nokia Siemens Networks' Future Remains Up in the Air

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Jun 27, 2011, 7:12 AM   by Eric M. Zeman
updated Jun 27, 2011, 7:24 AM

According to a report published by the Wall Street Journal, talks between Nokia, Siemens, and private investors over the Nokia Siemens Network joint venture have reached an impasse. Nokia and Siemens have been exploring ways to exit the joint venture, with the preferred option being to sell the company (or a significant portion of it) to private investors. The Journal reports that talks with the last set of investors interested in Nokia Siemens Networks have mostly broken down. The Journal indicated that Nokia and Siemens may attempt to inject more cash into the venture, but Nokia said that the company is still pursuing other ideas. In a statement emailed to Reuters, Nokia said, "Multiple options continue to exist for NSN and these are reflective of the company's performance in terms of both innovation and financial results. We're pleased with the turnaround that NSN is executing, and we remain focused on our plans to bolster NSN's competitiveness even further." Nokia Siemens Networks' uneven financial performance is seen by some shareholders as a drag on Nokia's financial performance, which has also taken a hit due to faltering smartphone sales.

more info at Wall Street Journal »
more info at Reuters »

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