Further fueling the consolidation in the telecommunications equipment and technology market, two giants in the business are merging their respective telecom gear businesses â€” Nokia and Siemens will merge into a single company, according to the Wall Street Journal. In a deal valued at â‚¬25 billion ($31.5 billion), Finnish Nokia and German Siemens will combine their telecommunications businesses in a new company to be headquartered in Finland and run by Nokiaâ€™s executive Simon Beresford-Wylie.
Sunday, June 18, 2006
Nokia and Siemens to merge
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