Nokia Siemens Network in talks to buy Motorola unit
According to the Wall Street Journal on Tuesday, Nokia Siemens Networks is in negotiations to purchase Motorola Inc.’s telecommunications- equipment business. The deal is expected to be reached in the next few weeks. This would give Nokia Siemens access to Motorola’s customers in the U.S. such as Verizon Wireless and Sprint Nextel Corp.
Furthermore, Nokia and Siemens are cutting jobs, as previously intended, back in November when Nokia said it will eliminate 5,760 jobs worldwide to adjust to the growth in telecommunications equipments. It will also shut down offices because of the low demand and price competition with Ericsson AB (world’s largest wireless equipment supplier).
Back in November Nokia Siemens Chief Executive Officer Rajeev Suri said that the company would expand through acquisitions and partnerships while trimming its existing operations. Let’s hope that Nokia’s plan will work flawlessly .
via : Business Week
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