Report: Nokia to buy out Siemens half in joint venture deal

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Well, it looks like there’s some good news coming out of Finland tonight, as Bloomberg is reporting that Nokia has agreed to buy out the half of the joint-venture from Siemens. Nokia-Siemens Networks had been losing money until recently and Siemens had wanted to get away from the deal, so it’s not too much of a surprise that Nokia would pick up the now profitable division.

The sale price is reportedly “less than 2 billion euros ($2.6 billion)” and Nokia will use a bridge loan to help finance the purchase, in a deal that some investors will welcome while others may frown upon due to the tight purse strings already at the struggling smartphone maker.

via Windows Phone Central – News – Forums – Reviews – Help for Windows Phone http://www.wpcentral.com/report-nokia-buyout-siemens-half-joint-venture-deal

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