The European Commission announced yesterday that it has approved the acquisition of US equipment vendor Motorola’s mobile network business by JV Nokia Siemens Networks (NSN).
The Commission said that the acquisition of Motorola Network Business (MNB)…
The European Commission announced yesterday that it has approved the acquisition of US equipment vendor Motorola’s mobile network business by JV Nokia Siemens Networks (NSN).
The Commission said that the acquisition of Motorola Network Business (MNB) would not impede effective competition in the European Economic Area.
In a statement, the Commission said that its investigation had found that “the parties’ product portfolios are largely complimentary and that MNB has a limited presence in the EEA.”
It added that the combined entity would continue to face a set of large competitors, and that the markets for mobile network equipment are bidding markets with sophisticated buyers.
NSN announced its planned acquisition of the wireless network infrastructure assets of Motorola for US$1.2bn in July.
It said at the time that the deal would significantly increase its global presence, especially in the US and Japan.
A spokesperson for NSN told TelecomFinance that it expected to get approval for the acquisition from regulators in all the countries affected by the end of the year.
“We have received merger control notifications in almost all jurisdictions where required, including the EU on Dec 15. We are working on the last remaining ones and expect them to be completed before the year-end.”
