They said the businesses to be combined in the 50-50 joint venture called Nokia Siemens Networks had sales of 15.8 billion euros (10.8 billion pounds) last year.More info at Reuters.
German industrial conglomerate Siemens declined to comment on financial details of the deal, which the Wall Street Journal has reported is worth $31.6 billion.
The deal will put the new company in the same league as current industry leader Cisco Systems Inc. and the new merged Alcatel-Lucent in terms of sales, and offer savings as they take on fierce competition.
Nokia and Siemens to merge phone business
Posted on Monday, Jun 19 2006 @ 21:17 CEST by Thomas De Maesschalck