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Nokia and Siemens Abandon NSN Sale Efforts

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Jul 13, 2011, 9:30 AM by Eric M. Zeman

Reuters today reports that Nokia and Siemens have given up on attempts to sell an equity stake in their Nokia Siemens Networks joint venture. The companies have held talks with various private equity firms over the course of the last 12 months, but they were never able to reach an agreement amenable to all the parties involved. In a statement issued by Nokia and Siemens, the parent businesses said they will continue to support the venture and inject more cash to bolster its strength. Separately, Siemens indicated that it hopes to exit the venture eventually.

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