Network equipment vendor Nokia Siemens Networks is seeking to renegotiate its $1.2 billion acquisition of network equipment assets from Motorola Solutions Inc., Bloomberg news agency says Tuesday citing “two people close to the situation”.
Nokia Siemens, a joint venture between Nokia Corp. and Siemens AG, wants to exclude the Global System for Mobile communications, or GSM, unit from the deal and renegotiate the price in order to win antitrust approval from the Chinese government, the news agency cites one of the persons as saying.
Nokia Siemens said on March 9 that the planned acquisition wouldn’t close in the first quarter as earlier expected becuase the Chinese government extended its review period, it says.
Nokia Siemens’ press spokesman Ben Roome declined to comment, and Motorola Solutions’ press spokesman Nick Sweers couldn’t be reached, Bloomberg says.
