Siemens looking to unload share in networking venture with Nokia, report said

Siemens has started talks with private-equity firms about the sale of its share in Nokia Siemens Networks, the Wall Street Journal reported on Friday.

The German company?s 50 percent share of Nokia Siemens Networks (NSN) could be worth more than ?7 billion ($9.3 billion) including debt. The news doesn?t come as a surprise to Gartner research director Sylvain Fabre, who in March wrote that Siemens would seek to finalize a deal this year.

The timing of Siemens? reported efforts are good, according to Fabre. NSN has gone through a major restructuring effort that saw it shed a number of units and lay off thousands of employees to focus on mobile broadband, and the company is now seeing the results of that work, he said.

?NSN is in a very sexy state of growth, I guess, so now would be a good time to sell when the company is on a roll,? Fabre said Friday.

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Source: http://www.pcworld.com/article/2042024/siemens-looking-to-unload-share-in-networking-venture-with-nokia-report-said.html#tk.rss_all

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