Motorola deal gains green light
Source: Agencies |
April 23, 2011, Saturday
|
Print Edition
Print Edition
Chinese regulators have approved the acquisition of Motorola Solutions Inc's network business by Nokia Siemens Networks and the US$975 million deal should close next week, Nokia Corp said.
The sale, part of Motorola's restructuring, was delayed after Beijing launched an anti-monopoly investigation.
Chinese regulators gave "unconditional approval," and the deal will close next Friday, Nokia said on Thursday.
Nokia Siemens Networks is the network equipment-making joint venture of Nokia and Germany's Siemens AG.
The Chinese approval follows the settlement of a lawsuit in the United States against Motorola by Chinese network equipment maker Huawei Technologies. Huawei said the deal could mean its business secrets would end up with Nokia Siemens, a competitor, because Motorola resold Huawei equipment from 2000.
In the April 13 settlement, Motorola agreed to pay Huawei an undisclosed fee to transfer its contracts to Nokia Siemens.
The deal allows Nokia Siemens to use confidential Huawei information to service networks Motorola deployed using Huawei's technologies.
The sale, part of Motorola's restructuring, was delayed after Beijing launched an anti-monopoly investigation.
Chinese regulators gave "unconditional approval," and the deal will close next Friday, Nokia said on Thursday.
Nokia Siemens Networks is the network equipment-making joint venture of Nokia and Germany's Siemens AG.
The Chinese approval follows the settlement of a lawsuit in the United States against Motorola by Chinese network equipment maker Huawei Technologies. Huawei said the deal could mean its business secrets would end up with Nokia Siemens, a competitor, because Motorola resold Huawei equipment from 2000.
In the April 13 settlement, Motorola agreed to pay Huawei an undisclosed fee to transfer its contracts to Nokia Siemens.
The deal allows Nokia Siemens to use confidential Huawei information to service networks Motorola deployed using Huawei's technologies.
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