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Adtran (ADTN) is acquiring Nokia Siemens' (NOK, SI) wireline broadband access business for an...
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Monday, December 12, 2011, 7:43 AM ETAdtran (ADTN) is acquiring Nokia Siemens' (NOK, SI) wireline broadband access business for an undisclosed sum. The transaction is expected to close in April, and will involve the transfer of ~400 people. It represents the latest attempt by Nokia Siemens, which announced massive job cuts last month, to pare its losses and shore up its balance sheet.
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SIEMENS reported a Quarterly loss of 65% from Q2 to Q3, and a loss of 98% in the Medical Solutions segment.
Their stock is down 21 Euros since 1 July, from 99 Euros to 74 Euros,a staggering 25% loss!! No mention or worry about this in the world press, whatsoever. All we hear is how wonderful the German economy is with no signs of trouble. Nothing, could be further from the truth.
Watch GE, SWALLOW them after the SEC has their turn on top.