Finnish/German JV Nokia Siemens Networks’s acquisition of Motorola’s public carrier wireless network infrastructure has been delayed because it still has not received regulatory approval from the Chinese regulator.
When the transaction was originally…
Finnish/German JV Nokia Siemens Networks’s acquisition of Motorola’s public carrier wireless network infrastructure has been delayed because it still has not received regulatory approval from the Chinese regulator.
When the transaction was originally announced in June 2010, NSN said it expected it to complete by the end of 2010. It now expects to complete the acquisition in the first quarter of 2011.
NSN stated in late December that it had received antitrust approval from other major regulators, including Brazil, the European Union, Japan and the US.
NSN CEO Rajeev Suri said that he was looking forward to completing the acquisition in the New Year.
Huawei was reported to have outbid NSN for the Motorola unit, but lost out due to the security concerns that have blocked other Chinese attempts to take over US telecoms assets.
A spokesperson for the company told TelecomFinance that the company had been working “very closely and constructively” with the Chinese authorities on the deal.
He said: “The delay to the targeted closing is disappointing, but not unexpected given the complex nature of the transaction and the customary diligence of the antitrust approval and clearance processes.”
