US vendor Motorola Solutions has said that it expects to complete the sale of its mobile networks business to European vendor Nokia Siemens Networks (NSN) in June, according to media reports.
Although the US$1.2bn acquisition was originally announced in…
US vendor Motorola Solutions has said that it expects to complete the sale of its mobile networks business to European vendor Nokia Siemens Networks (NSN) in June, according to media reports.
Although the US$1.2bn acquisition was originally announced in July 2010, it has been slowed down to the failure of Chinese regulators to ratify the deal.
The Financial Times reported today that Motorola Solutions expects the deal to be completed in June.
The company’s CEO, Greg Brown, reportedly said that the Chinese authorities had decided to put the deal through a review that slowed down the process.
A spokesman for NSN said that the company was still committed to the deal, but would give no further guidance on when it will be completed.
Its most recent statement on the deal, published on 9 March, stated that the acquisition had entered phase three of a review process of the Anti-Monopoly Bureau of the Chinese Ministry of Commerce (MOFCOM).
Reports earlier in March suggested that NSN was looking to renegotiate the deal in order to get the Chinese authorities onboard.
Reportedly, NSN was considering dropping the acquisition of Motorola’s GSM unit and was renegotiating the price accordingly.
The deal was originally announced before Motorola was demerged in January into Motorola Solutions, which covers business communications, and Motorola Mobility, the mobile arm of the business.
Motorola Solutions did not reply to questions before the press deadline.
