According to news from July 1, Beijing time, according to foreign media reports, in the prospect of the joint venture company "Nokia Siemens Communications" (hereinafter referred to as Nokia Siemens), Nokia and Siemens have the same bed and dream differently. Bloomberg News quoted three people familiar with the matter on June 30 as saying that Nokia has agreed to acquire half of the stake in Nokia Siemens, which Siemens will hold. In the future Nokia will become a wholly-owned subsidiary of Nokia. The Wall Street Journal made a similar report.
According to sources, Nokia may announce the news as early as possible in recent days. According to reports, Nokia will acquire half of the equity for less than 2 billion euros (2.6 billion US dollars), and Nokia will apply for a bridge loan to finance the acquisition.
Siemens executives have previously stated publicly that they are no longer interested in the Nokia Siemens joint venture. The Wall Street Journal and other media reported that Siemens is extensively contacting private equity companies and transferring half of their equity. Siemens hopes to leave the field of mobile communications and focus on the main business areas such as energy equipment, healthcare, and railways.
For Nokia, which is struggling in the mobile phone industry, this acquisition will help it gain control of Nokia Siemens, whose conditions have improved.
Bear Stearns Research analyst PierreFerragu said that for Nokia, the acquisition of Siemens shares has advantages and disadvantages, Nokia will have a more tangible future prospects, but its finances may face tensions.
Since the joint venture, Nokia Siemens Networks has been in a poor condition and only started to make profit last year. With the introduction of cost reduction measures, Nokia Siemens ’profits have started to increase. The company's CEO RajeevSuri predicted in February that the cost reduction during the year would exceed the goal of 1 billion euros.
In 2011, Nokia and Siemens had negotiated with private equity companies to discuss the transfer of the company, but negotiations were interrupted due to unsatisfactory quotations. In the second half of 2011, Nokia Siemens began to implement cost reduction measures and laid off 17,000 people worldwide, accounting for 23% of the number of jobs.
The media said that competition from Huawei and ZTE has led to challenges such as Nokia Siemens Networks, Ericsson, Alcatel-Lucent, etc., and Canada Nortel Networks has gone bankrupt in 2009.
At the end of the first quarter, Nokia Siemens had 56,700 employees, and major customers of its telecommunications equipment included Deutsche Telekom and Cisco Systems.
About Nokia Siemens:
Nokia Siemens Networks (NSN) is a telecommunications solution provider. It is composed of Siemens COM (not including Enterprise) and Nokia ’s Network Business Group. 50% / 50% joint venture merger.
The new company was announced on June 19, 2006 and started operations on April 1, 2007 [1]. Its headquarters are located in Espoo, Finland ’s Greater Helsinki metropolitan area, and three of its European headquarters and five departments are located in Munich, Europe. And have operations in all major locations in the world.
With a total of more than 15 billion euros in revenue in 2005, it is foreseeable that the new company will become one of the world's largest telecommunications equipment manufacturers.
Nokia Siemens Networks has approximately 60,000 employees, is headquartered in Helsinki, Finland, and has offices in Munich, Germany, and many other countries around the world. On June 19, 2006, Nokia and Siemens jointly announced the merger of the two companies in the communications network business. Nokia ’s network equipment business and Siemens ’mobile fixed-line business will be combined to form a" Nokia-Siemens communications network. " The new company has 50% shares in each of the two companies, forming a new company with annual revenue of 15.8 billion euros and 60,000 employees.
latest news:
Nokia acquires Siemens shares held by Siemens for 1.7 billion euros
Today, Nokia announced that the company will spend 1.7 billion euros (about 13.6 billion yuan) to acquire a 50% stake in Nokia Siemens Networks (hereinafter referred to as "Noxi") held by Siemens. Nokia said the transaction will be completed in the third quarter of 2013. Among them, the purchase price of 1.7 billion euros includes 1.2 billion euros in cash, and the rest will be paid through secured loans. After the acquisition is completed, Nokia Siemens Networks will become a wholly-owned subsidiary of Nokia.
Earlier, Siemens executives had previously publicly stated that they were no longer interested in the Nokia Siemens joint venture. The Wall Street Journal and other media reported that Siemens was extensively contacting private equity companies and transferring half of their equity. Siemens hopes to leave the field of mobile communications and focus on the main business areas such as energy equipment, healthcare, and railways.
Bear Stearns Research analyst PierreFerragu said that for Nokia, the acquisition of Siemens shares has advantages and disadvantages, Nokia will have a more tangible future prospects, but its finances may face tensions.
In 2011, Nokia and Siemens had negotiated with private equity companies to discuss the transfer of the company, but negotiations were interrupted due to unsatisfactory quotations. In the second half of 2011, Nokia Siemens began to implement cost reduction measures and laid off 17,000 people worldwide, accounting for 23% of the number of jobs.
While Nokia is competing with Apple, Samsung Electronics and other companies for global smartphone market share, Nokia Siemens has become a stable source of cash for Nokia. Under Elop's leadership, Noci had already experienced weight loss and had laid off thousands of people. At the same time, Nokia's reliance on Nokia Siemens is getting stronger. Last year, Nokia ’s revenue accounted for 46% of Nokia ’s total revenue, which was higher than Elop ’s 30% at the head of Nokia.
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