Nokia and Siemens to Merge Mobile Networks
June 19, 2006
HELSINKI, Finland – Nokia Corp. and Siemens AG will combine their mobile network operations to create a joint venture with annual revenues of $20 billion, the world’s largest mobile phone maker said Monday.
The 50-50 joint venture will comprise Nokia’s network business group and Siemens’ carrier-related operations, creating estimated synergies of $1.9 billion, Nokia said.
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