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Chinese regulatory hurdle delays Nokia Siemens, Motorola deal
TT Correspondent |  |  10 Mar 2011

Telecom equipment vendor Nokia Siemens Networks''' proposed USD 1.2 billion deal to acquire Motorola''s wireless network infrastructure would be delayed further, pending Chinese regulatory approvals.

The deal was announced in July 2010 and was previously expected to close by the first quarter of 2011.

"The acquisition by Nokia Siemens Networks of Motorola''s wireless networks infrastructure assets..., is still pending anti-trust approval from Chinese regulatory authorities”."Closing activities will not be completed in the first quarter of 2011 as previously targeted," Nokia said in a statement .

Nokia Siemens Networks (NSN) is a joint venture between Finnish mobile phone maker Nokia and German group Siemens AG.

"The proposed acquisition has entered phase three of the review process with the Anti-Monopoly Bureau of the Ministry of Commerce in China (MOFCOM)," the statement noted.

The transaction, once completed, would strengthen enhance NSN''s capabilities in key wireless technologies, especially in the United States and Japan and would also give the entity a large global footprint in CDMA technology.

For the Indian market, NSN would get hold of Wimax technology, which is likely to come up in a big way here after the allocation of broadband spectrum to operators.
As part of the transaction, about 7,500 employees are expected to be transferred to Nokia Siemens Networks from Motorola''s wireless network infrastructure business when the transaction closes, including large research and development sites in the US, China and India.

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10 Mar 2011(IST)  
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