A merged Nokia Siemens Networks, delayed by a 420m euro ($555m) bribery scandal at German conglomerate Siemens AG, will now start operations on April 1.
The two companies are contributing their respective carrier networks businesses and assets into a 50:50 company, which will be the third largest players behind Alcatel Lucent and Ericsson
To ensure it has sufficient liquid assets, the two parents have agreed to increase their respective net asset contributions, with Siemens putting in 2.4bn euros ($3.2bn) and Nokia 1.7bn euros ($2.2bn).
The new company was originally due to begin operations in January but was held up when it emerged that the bribery probe extended to Siemens' carrier-related business
The two companies are contributing their respective carrier networks businesses and assets into a 50:50 company, which will be the third largest players behind Alcatel Lucent and Ericsson
To ensure it has sufficient liquid assets, the two parents have agreed to increase their respective net asset contributions, with Siemens putting in 2.4bn euros ($3.2bn) and Nokia 1.7bn euros ($2.2bn).
The new company was originally due to begin operations in January but was held up when it emerged that the bribery probe extended to Siemens' carrier-related business
