Rus News Journal

Joint venture Nokia Siemens will begin work in April 2007.

the Joint venture (joint venture) in sphere of telecommunications Nokia Siemens Networks of the Finnish manufacturer of mobile phones Nokia and the German concern Siemens will begin activity on April, 1st of this year Such data contain in the joint message of the companies.
Siemens will grant on the joint venture actives for the sum 2,4 mlrd euro, and Nokia - 1,7 mlrd euro. The joint venture which partners will own on a parity basis, becomes the second-large operator of networks of mobile communication in the world and the third in the world the operator of networks of a fixed-line telephony. The beginning of work of the joint venture was planned on the beginning 2007., however it has been postponed from - for investigations of the facts of corruption in company Siemens.
Scandal in Siemens has burst in the middle of November 2006. The Munich Office of Public Prosecutor has begun investigation of actions of present and former employees of telecommunication division Siemens Communications on suspicion in transfer of means for bribery to potential customers. By estimations Siemens, the volume of suspicious transaction reached 420 million euro. In the middle of December Nokia has declared that postpones merge of actives to allow Siemens time to understand with scandal consequences. The decision of Finns has generated in the market hearings that Nokia can refuse in general joint venture creation, informs daily.
joint venture creation in sphere of manufacture of telecommunication equipment Nokia and Siemens declared in June 2006. The joint venture should make the equipment for mobile networks GSM/ EDGE, 3G WCDMA/ HSDPA, Wi - Max, and also the equipment for the broadband Internet. Nokia Siemens Networks expects to enter into a three of the largest manufacturers in sector in which now are in the lead Ericsson and Alcatel/ Lucent. Prospective annual gain Nokia Siemens Networks will make 15 - 17 mlrd euro.