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Mergers and Acquistions News

Categories: Telecoms

December 29th 2010, 15:44PM

Nokia Siemens Networks (NSN) will look to the first quarter of 2011 to complete its acquisition of the majority of Motorola's public carrier wireless network infrastructure assets after falling short of its original 2010 timeline.

Completion of the transaction, which was originally announced in July 2010, was expected by the end of this year, but awaiting regulatory approval from Anti-Monopoly Bureau of the Ministry of Commerce of China has delayed the deal.

Anitrust clearance from the US, the European Union, Brazil, Japan, Russia, South Africa, Taiwan and Turkey, have all been obtained.

"This delay is disappointing, but we're looking forward to completing the acquisition early in the new year," said Rajeev Suri, chief executive officer of NSN.

"We are continuing to work closely with the authority in China to finalise the clearance process in that country. We recognise its efforts in addressing this case as a matter of importance."

On completion of the transaction around 7,500 Motorola employees are expected to transfer to NSN.ADNFCR-1833-ID-800315387-ADNFCR

 

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