Wednesday, December 13, 2006

Nokia Siemens Networks Merger Delayed Till Later in Q1 2007

Due to the current investigations of Siemens, the scope of which includes its carrier-related business, the planned merger between Nokia and Siemens is now expected to close sometime in Q1 2007, instead of January 2007 as originally planned.



Nokia and Siemens said they intend to adjust their agreements in order to have Siemens conduct an appropriate compliance review prior to closing of the transaction. This adjustment is an addition to the previously agreed closing conditions. Nokia plans to participate actively in the review.



Closing will be subject to an agreement between Nokia and Siemens on the results and consequences of a Siemens compliance review.


http://www.siemens.comhttp://www.nokia.com

  • On June 19, 2006, Nokia and Siemens announced plans to combine Nokia's Networks business group and Siemens' carrier-related operations for fixed and mobile networks to form a new company called Nokia Siemens Networks. The new company had 2005 calendar year pro forma revenues of EUR 15.8 billion.

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