Nokia and Siemens Confirm NSN Investment Talks (NOK, SI)

Nokia NOK and Siemens SI confirmed talks with private equity firms over a possible investment into Nokia Siemens Networks (NSN), the Financial Times reported Sunday. Nokia Siemens Networks, a joint venture between Nokia and Siemens, is one of the largest telecommunications hardware, software and services companies in the world. According to a Reuters report, "Company executives told the newspaper that both partners were committed to completing a turnaround before considering their options after their joint venture ends in 2013." Rajeev Suri, NSN's CEO, told the Financial Times that private equity investment could give the business "greater strength and flexibility," but fresh capital was not essential. "We're not just looking for financial investment but also for new ideas," he said. Among private equity firms eyeing a stake in the company are Blackstone, TPG Capital and Bain Capital, sources familiar with the situation told Reuters last month. Shares of Nokia lost 0.69% Friday, to close at $8.66. Shares of Siemens gained 2.29%, to close at $92.36.