Nokia Siemens Sells Division to Marlin Equity Partners
Nokia Siemens Networks, a telecom equipment joint venture between Nokia (NYSE:NOK) and Siemens (NYSE:SI), has sold its optical networks business to Marlin Equity Partners, according to the company’s e-mail statement cited by Bloomberg. Financial details were not disclosed, but about 1900 employees would be transferred to a new company. The disposal comes as Nokia Siemens attempts to cut costs, restore profitability and focus on fast-growing mobile broadband. In October, the company announced it had cut about 14,300 jobs compared to a year earlier.
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