Finnish telecom equipment maker Nokia is buying the half stake owned by German engineering giant Siemens in their mobile broadband venture NSN for 1.7 billion euros ($2.2 billion), Nokia said on Monday.
A Nokia store in Helsinki, Finland, October 21, 2010. Nokia has agreed to buy German engineering giant Siemens' 50% stake in their mobile broadband joint venture NSN for 1.7 billion euros ($2.2 billion).
Nokia shares, which have fallen sharply recently reflecting a decline of Nokia's once-dominant position in making mobile phones, jumped 7.24 percent on the news.
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