WSJ: Nokia Siemens in Talks for Motorola Networks Unit
Nokia Siemens Networks is in talks to buy Motorola's network equipment business, according to The Wall Street Journal.
Citing "people familiar with the matter," the Journal said a potential deal between Motorola and Nokia Siemens could be reached within the next few weeks and may be worth between $1.1 billion and $1.3 billion.
Last year, Nokia Siemens tried to buy Nortel's CDMA and LTE networks businesses when they went up for sale during bankruptcy proceedings but Ericsson ended up winning the assets with a $1.13 billion bid. The deal would have helped Nokia Siemens strengthen its presence in North America.
Motorola is in the process of spinning off its cell phone and set-top box business into a separate company called Motorola Mobility. Its public safety and networks businesses will be called Motorola Solutions. The split is expected to finalize in the first quarter of 2011.