Bloomberg: Nokia will buy Siemens’ share of joint venture for less than $2.6b
Not all partnerships pan out, and Nokia seems ready to call it quits: according to Bloomberg, the company might announce a buy out of the German half of Nokia Siemens Networks later this week. Sources familiar with the matter say that the the Finnish firm is planning to use a bridge loan to finance the $2.6 billion purchase (less than 2 billion euros), taking the entire operation under its own wing. It’s not a completely unexpected move on Nokia’s part — the company previously avoided selling off stake in the network back in 2011, opting to lean on its own shareholders instead. Bloomberg reports that Siemens has declined to comment on the issue, but we’ll let you know if we hear anything solid.
By Sean Buckley