Nokia (NYSE:NOK) and Siemens are working out a deal to sell a 30 percent stake in their Nokia Siemens Networks telecom infrastructure joint venture, reports German business magazine Manager Magazin.
Although the report did not cite specific sources, it did say that both vendors are holding talks with private-equity firms Blackstone Group LP and the Gores Group.
Because Nokia is still in the process of acquiring Motorola's (NYSE: MOT) network business, neither company has revealed any price for the stake. The report did reveal that other KKR, Apollo, Bain Capital and Silver Lake Partners are no longer in the running.
Ben Roome, a Nokia Siemens Networks spokesman, would not specifically say anything about the German magazine's report. "We acknowledged in August that private equity was taking an interest in Nokia Siemens Networks," he told FierceTelecom's sister publication FierceWireless. "We welcome this interest as a testament to the company's progress, which is clearly being noticed by 'smart money.' At the right terms, new money invested into Nokia Siemens Networks could benefit it and its customers."
- see this Dow Jones Newswire article
- see this Manager Magazin article (via Google translation)
Report: Nokia Siemens in talks to sell 30% of company to private equity firms
Nokia, Siemens search for exit out of NSN venture