China clears Motorola networks sale to NSN

Nieuws Mobiel Wereld 21 APR 2011
China clears Motorola networks sale to NSN
Nokia Siemens Networks is set to complete its acquisition of Motorola's network infrastructure business next week after China's antitrust regulator approved the deal. Zhang Zhiqiang, head of greater China at NSN, told the Financial Times that the Chinese ministry of commerce had given the deal its "unconditional approval". The ministry could not be reached for comment. The deal, first announced last July, has been repeatedly delayed, in part due to a legal dispute with Huawei, which was only resolved last week. Motorola most recently said it expected to close the sale in the second quarter. Following the agreement with Huawei, NSN and Motorola lowered the price of the acquisition from the original USD 1.2 billion to USD 975 million.

Categories:

Mobiel

Companies:

Nokia Siemens Networks,  Huawei China

Regions:

Wereld

Tags:

Regulations, Network equipment, Wholesale, M&A buyouts & divestments

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