8/7/2013 4:36:35 PM
Nokia acquires half of Nokia Siemens Network
Nokia has announced the completed acquisition of Siemens’ 50% stake in Nokia Siemens Network, changing the company name in the process.
The new name and brand will be known as Nokia Solutions and Networks, or NSN, scrapping the Siemens name completely. Mobile revealed last month that the Finnish manufacturer had bought the share for £1.4bn and now ‘wholly owns’ the organisation.
Although the resignation of Siemens-appointed directors has led to a restructure of the NSN board of directors, Rajeev Suri and Jesper Ovesen will continue as CEO and executive chairman of the board of directors respectively.
Author: Matthew Campelli