This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nokia to Buy Siemens' Stake in Telecom Joint Venture, Reports Say

NEW YORK ( TheStreet) -- Nokia (NOK - Get Report), the Finnish smartphone maker, has agreed to buy Siemens AG's (SI) stake in a joint venture the companies have for telecommunications equipment, news reports Sunday said.

Nokia will pay less than 2 billion euros ($2.6 billion) to get full control of the venture, Nokia Siemens Networks, according to Bloomberg News, which first reported the deal.

The agreement could be announced as early as Monday.

The deal came as little surprise, according to The New York Times, because Siemens had been looking to divest its 50% stake in the venture to focus on other aspects of its business.

The Wall Street Journal said Nokia, which recently failed to reach a deal to sell its handset business to Microsoft, had been trying to put together a deal to buy Siemens out of the joint venture.

Bloomberg reported that a bridge loan will be used to help finance the deal.
This article was written by a staff member of TheStreet.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
SI $0.00 0.00%
NOK $6.98 -0.85%
AAPL $112.03 2.30%
FB $93.24 0.83%
GOOG $643.61 0.70%


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs