Nokia To Buy Out Siemens' Role In Joint Venture For $2.6 Billion

Nokia and Siemens have a lot to do with one another, believe it or not. On the consumer side, Nokia Siemens Networks is rarely talked about. But in the enterprise, it's a major player. That said, things have changed for Nokia in recent years, and it seems that things are changing for Siemens. A new report suggests that Nokia will buy out Siemens' stake in the joint venture for around $2.6 billion. Nokia will lean on a "bridge loan" to help finance the purchase, but all in all it's a fairly affordable acquisition.

Siemens has been looking for a way out of the wireless-gear business for years, while Nokia has been looking for more control over its destiny in the mobile arena. It's unclear what exactly Nokia plans to do with Siemens, but diversifying its mobile holdings sure doesn't seem like a bad idea given how tough it has been to gain serious market share with Windows Phone.
Tags:  Nokia, Mobile, Enterprise