Tuesday, June 20, 2006

WSJ.com - Siemens to Sell Stake In Corporate-Service Unit

WSJ.com - Siemens to Sell Stake In Corporate-Service Unit: "On the heels of an agreement to combine its telecommunications-equipment business with that of Nokia Corp., Siemens AG said it is in talks to sell a majority stake in its enterprise unit, which supplies packages of telecom gear and services to corporate customers.
Siemens didn't identify the potential buyers for the unit, which has about €3.5 billion, or about $4.4 billion, in annual sales. But with the potential sale and its planned joint venture with Finland's Nokia, the German electronics-and-engineering giant is dismantling its telecom unit known as Com, which posted €13.14 billion in sales for fiscal 2005."

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