Tags: US | Motorola | Nokia

Report: Motorola in Talks With Nokia Siemens

Wednesday, 14 Jul 2010 10:34 AM

Motorola Inc. is in talks with Nokia Siemens Networks to sell off its telecommunication equipment business, according to a report citing unnamed sources familiar with the matter.

A Motorola spokeswoman declined to comment Wednesday morning.

The Wall Street Journal said the companies are discussing terms, and citing an unnamed source, said a deal could be worth between $1.1 billion and $1.3 billion.

Schaumburg, Ill.-based Motorola has been trying to turn its business around by focusing on new smart phones such as the popular Droid. And it is working to split its cell phone business from the rest of the company.

The unit that Motorola is in talks to sell makes equipment for telecommunications networks.

Nokia Siemens is a joint venture between Finland's Nokia Corp. and Siemens AG of Germany. A representative did not immediately return a message for comment.

Shares of Motorola inched 8 cents higher in premarket trading to $7.29.

American Depositary shares of Nokia slid 3 cents to $8.53.

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Motorola Inc. is in talks with Nokia Siemens Networks to sell off its telecommunication equipment business, according to a report citing unnamed sources familiar with the matter.A Motorola spokeswoman declined to comment Wednesday morning.The Wall Street Journal said the...
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2010-34-14
Wednesday, 14 Jul 2010 10:34 AM
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