Nokia Siemens Seeks Cash
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