Mergers and Acquisitions Recap: Nokia Siemens Will DIVEST Division, ScotiaBank PURCHASES ING Unit
Nokia Siemens (NYSE:NOK)(NYSE:SI) is reportedly in “advanced talks” to divest its Business Support Systems division, according to Bloomberg. The unit supplies billing services to carriers, and is said to have brought interest from LM Ericsson Telephone Company (NASDAQ:ERIC), Amdocs Ltd (NYSE:DOX), and private equity firms. According to several sources, it could bring a sale price of €300 million, or $377 million.
The Bank of Nova Scotia (NYSE:BNS) will acquire the Canadian division of ING for $3.1 billion, funded by the buyer’s secondary of 29 million shares at $52. The net investment footing, less excess capital at ING Bank of Canada, will amount to $1.9 billion.
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