DOW JONES NEWSWIRES
Nokia Siemens Networks Tuesday said its acquisition of the
majority of Motorola's public carrier wireless network
infrastructure assets, earlier expected to be closed by the end of
2010, has been delayed to the first quarter of 2011, pending
approval from Chinese authorities.
MAIN FACTS:
-The transaction has not yet received regulatory approval from
the Anti-Monopoly Bureau of the Ministry of Commerce of China,
which is continuing its review process.
-The company has obtained all other necessary regulatory
clearances, from authorities in the US, European Union, Brazil,
Japan, Russia, South Africa, Taiwan and Turkey.
-The transaction was originally announced on Jul. 19, 2010.
-Approximately 7,500 employees are expected to transfer to Nokia
Siemens Networks from Motorola's public carrier wireless network
infrastructure business when the transaction closes, including
large research and development sites in the United States, China
and India.
-By Stockholm Bureau, Dow Jones Newswires; +46-8-5451-3090;
djnews.stockholm@dowjones.com