Nokia

(NOK) - Get Report

and

Siemens

(SI)

announced the merger of their network equipment businesses on Monday morning, and since then both stocks have increased, Jim Cramer said on his

"RealMoney" radio show.

When two companies merge, the remaining companies in that sector make money, he said. This merger is good for the telecom industry. Cramer said it shows there is opportunity knocking even as the market goes down.

This merger follows the union of telecom mammoths

Lucent

(LU)

and

Alcatel

(ALA)

, but Cramer said he still doesn't want to put more money in the telecom sector yet because there are still too many companies competing to make a move.

There needs to be more consolidation, but until then players still have to be cautious when it comes to the telecom industry, Cramer said.

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