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Nokia Siemens Networks plan to buy Motorola
Tokyo, Jul 14: Nokia Siemens Networks, one of the largest telecommunications equipment suppliers in the world, plan to buy Motorola Inc"s telecommunications equipment business.
Wall Street Journal reported that the Nokia Siemens Networks, a joint venture of Nokia Corp of Finland and Siemens AG of Germany, plan to make the deal worth $1.1 billion to $1.3 billion in the next few weeks.
In May 2010 Co-Chief Executive Officer of Motorola, Greg Brown, told that the company may consider selling the equipment unit.
The new deal will give Nokia Siemens access to Motorola"s customers in the US such as Verizon Wireless and Sprint Nextel Corp.
OneIndia News
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Story first published: Wednesday, July 14, 2010, 13:28 [IST]
