European vendor Nokia Siemens Networks’ (NSN) 50:50 owners are talking to PE firms Blackstone and Gores Group about a 30% stake in the JV, according to reports.
Finland’s Nokia and Germany’s Siemens have admitted talking to the US firms specifically…
European vendor Nokia Siemens Networks’ (NSN) 50:50 owners are talking to PE firms Blackstone and Gores Group about a 30% stake in the JV, according to reports.
Finland’s Nokia and Germany’s Siemens have admitted talking to the US firms specifically about a 30% stake, FierceWireless reported – without disclosing a price.
However, this claim was sharply denied by Nokia and Siemens, and a spokesman for NSN insisted any reports on the plans are still speculation at this stage.
“We have received interest from private equity firms, but the details of any discussions remain private,” the spokesman told TelecomFinance.NSN CFO Joe Kaeser told journalists in Munich on 11 November that the JV is looking for an investor with industry expertise to strengthen its assets beyond its 2013 break-up.During a conference call on 21 October after unveiling Q3 results, Nokia CFO Timo Ihamuotila said: “There has been some unsolicited interest from different parties on NSN, and clearly as shareholders we are willing to talk to people who could bring some new assets, capital or ideas into this industry.”
Bain Capital, TPG Capital and Silver Lake have also been tipped as likely suitors.
Morgan Stanley is advising the sale.
Blackstone and Gores were unable to comment on the recent speculation.
