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Friday, Jun 14
Nokia (NOK +4.2%) rallies after the WSJ reports Siemens (SI -0.5%) is talking to P-E firms,...
Nokia (NOK +4.2%) rallies after the WSJ reports Siemens (SI -0.5%) is talking to P-E firms, including TPG, KKR, and Blackstone, to "gauge their interest" in buying its 50% stake in Nokia Siemens, and that Nokia itself is thinking of buying Siemens out (possibly with the help of Finnish sovereign wealth fund Solidium). Analysts have pegged the value of NSN, which has turned profitable following a huge restructuring, at above €7B ($9.4B) after factoring debt. Bloomberg reported in February Nokia and Siemens had "intensified talks" to end Siemens' involvement in NSN.