Nokia Expands Control by Acquiring Siemens' Stake in Joint Venture

Nokia has officially announced a strategic move to purchase Siemens' 50% stake in their joint enterprise, Nokia Siemens Networks, for approximately $1.85 billion USD. This acquisition marks a significant step for Nokia as it aims to consolidate its leadership in the wireless broadband sector.

Established in 2007, the collaboration between Nokia and Siemens has been at the forefront of wireless broadband technology. According to former CEO Stephen Elop, focusing intensively on LTE technology has enabled Nokia Siemens Networks to achieve consistent profitability and strong performance in recent quarters following a comprehensive restructuring.

The transaction is expected to finalize after regulatory approvals in the third quarter of this year. Post-completion, Nokia Siemens Networks will be rebranded as a wholly owned Nokia subsidiary. Siemens will receive $1.3 billion USD in cash along with a $550 million USD loan as part of the deal.

The market responded positively to this development, with Nokia's stock rising by 7.1% and Siemens' shares increasing by 2.4%, reflecting investor confidence in the move.

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