StockBriefings | Sammy Daniels | January 3, 2011
Nokia Corp. (NYSE:NOK) Siemens has revealed delays in Motorola network assets acquisition. Nokia Corp. (NYSE:NOK) stocks are currently standing at 10.32.
Nokia Corp. (NYSE:NOK) Siemens Networks, a joint venture between Nokia Corp. (NYSE:NOK) and Siemens AG (SI), has announced a delay in the completion of its intended acquisition of the majority of Motorola Inc.’s (MOT) public carrier wireless network infrastructure assets, as the company had not received regulatory approval from the Anti-Monopoly Bureau of the Ministry of Commerce of China.
Rajeev Suri, the CEO of Nokia Corp. (NYSE:NOK) Siemens Networks said that, “This delay is disappointing, but we’re looking forward to completing the acquisition early in the New Year. We are continuing to work closely with the authority in China to finalize the clearance process in that country.”
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