Nokia Siemens fully buys stake in the joint venture Nokia Siemens Networks

Company Nokia Corporation and Siemens AG today announced a definitive agreement under which, Nokia is gaining a 50% stake in Siemens in their joint venture Nokia Siemens Networks. The acquisition was approved by the Board of Directors of Nokia, as well as the Management Board and the Supervisory Board of Siemens.

Purchase of Siemens is estimated at EUR 1.7 billion and will be completed in the third calendar quarter of 2013. After the closing of the proposed acquisition, Nokia Siemens Networks will become a subsidiary of Nokia.