- Pending regulatory approval from the authority in China
- Antitrust clearance received from US, European Union, Brazil, Japan, Russia, South Africa, Taiwan and Turkey
Nokia Siemens Networks today announced that it now expects to complete its acquisition of the majority of Motorola's public carrier wireless network infrastructure assets in the first quarter of 2011. The company had expected, at the time the transaction was originally announced on July 19, 2010, to complete closing activities by the end of 2010 but the transaction has not yet received regulatory approval from the Anti-Monopoly Bureau of the Ministry of Commerce of China, which is continuing its review process. All other necessary regulatory clearances have 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 Nokia Siemens Networks. "We are continuing to work closely with the authority in China to finalize the clearance process in that country. We recognize its efforts in addressing this case as a matter of importance."
Approximately 7,500 employees are expected to transfer to Nokia Siemens Networks from Motorola's public carrier wireless network infrastructure business when the transaction closes, including large research and development sites in the United States, China and India.
About Nokia Siemens Networks
Nokia Siemens Networks is a leading global enabler of telecommunications services. With its focus on innovation and sustainability, the company provides a complete portfolio of mobile, fixed and converged network technology, as well as professional services including consultancy and systems integration, deployment, maintenance and managed services. It is one of the largest telecommunications hardware, software and professional services companies in the world. Operating in 150 countries, its headquarters are in Espoo, Finland. www.nokiasiemensnetworks.com
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"Risk Factors." Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. Nokia does not undertake any obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
Media Enquiries
Nokia Siemens Networks
Ben Roome
Media Relations
Phone: +44 7827 300203
E-mail: ben.roome@nsn.com
Media Relations
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