Nokia Siemens’s Purchase of Motorola Assets Is Delayed

Bloomberg | Diana ben-Aaron and Katie Hoffmann | December 29, 2010

Nokia Siemens Networks, the world’s second-largest maker of wireless phone systems, said the wait for antitrust approval from China will delay the completion of its $1.2 billion purchase of network assets from Motorola Inc.
The acquisition will probably close in the first quarter of 2011, rather than this year, Espoo, Finland-based Nokia Siemens, a joint venture between Nokia Oyj and Siemens AG, said today in a statement. The deal has already been approved by U.S. and European Union regulators, among others.
Nokia Siemens wants to boost its scale to compete with larger rival Ericsson AB and lower-priced competitors such as China’s Huawei Technologies Co.
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Read full articl here via Business Week