& cplSiteName &

Nokia Siemens Seeks Cash

Craig Matsumoto
8/30/2010

Nokia Networks has confirmed that it's talking to private equity firms about investing.

The Financial Times reported the news on Sunday. That Website requires registration, but you can get the gist of the story from Reuters.

Executives from Nokia Corp. (NYSE: NOK) and Siemens AG (NYSE: SI; Frankfurt: SIE) told The Financial Times that they're not considering selling their stakes in Nokia Siemens. Still, it's worth noting that the parent companies are looking for someone else to put money into NSN.

Nokia Siemens CEO Rajeev Suri is trying to put the right spin on it, anyway. “We’re not just looking for financial investment but also for new ideas," he told FT.

The companies are counting on NSN looking more attractive after picking up the Motorola Inc. (NYSE: MOT) wireless business recently. (See NSN to Buy Moto's Wireless Biz for $1.2B , NSN Expands in North America With Moto Buyout, Moto Hangs On to $400M iDEN Biz, NSN Back in Love With WiMax, Will Moto-NSN Deal Reopen the Set-Top Doors? , NSN & Moto: It's All in the Execution , Moto Gives NSN a WiMax Option in India, and NSN Lands $7B LTE Deal in US .)

— Craig Matsumoto, West Coast Editor, Light Reading

(5)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Stevery
Stevery
12/5/2012 | 4:25:13 PM
re: Nokia Siemens Seeks Cash


“We’re not just looking for financial investment but also for new ideas," he told FT.


Right, because everyone goes to the private equity guys when they need "ideas".

Pete Baldwin
Pete Baldwin
12/5/2012 | 4:25:13 PM
re: Nokia Siemens Seeks Cash


The Nokia/Siemens joint venture is up for renewal in 2013? That's what the FT story says. I either didn't know that or forgot about it.

Pete Baldwin
Pete Baldwin
12/5/2012 | 4:25:11 PM
re: Nokia Siemens Seeks Cash


Precisely!  :)

Kevin Mitchell
Kevin Mitchell
12/5/2012 | 4:25:09 PM
re: Nokia Siemens Seeks Cash


The ideas they are looking for are an adequate response to: how the hell do we get off this sinking ship?

Pete Baldwin
Pete Baldwin
12/5/2012 | 4:25:08 PM
re: Nokia Siemens Seeks Cash


Hey, sometimes that's the kind of advice you need.  :)


Private equity is also good for finding reasons to do all the layoffs you didn't have the guts to do earlier. (N.B. Not saying this applies to NSN; I'm just going with the stereotype of private equity.)


What are the odds a private equity person is reading these? In all seriousness, some input from someone on that side could be interesting. Email me at [email protected] if you don't want to post here.

Featured Video
Upcoming Live Events
November 5, 2019, London, England
November 7, 2019, London, UK
November 14, 2019, Maritim Hotel, Berlin
December 3-5, 2019, Vienna, Austria
December 3, 2019, New York, New York
March 16-18, 2020, Embassy Suites, Denver, Colorado
May 18-20, 2020, Irving Convention Center, Dallas, TX
All Upcoming Live Events