Nokia Siemens Networks to open shop April 1

That long-gestating deal that will bring together the carrier business of Siemens and Nokia finally has a due date--and its really soon. The companies announced yesterday that Nokia Siemens Networks will open for business on April 1. The deal would have been done sooner, but for the little matter of an ongoing bribery probe into Siemens' business operations. The newly formed company is saying it's put strong compliance policies into place to prevent it from getting tarred with the same brush. Each parent company will own half of the venture, but Nokia is putting in $2.25 billion and Siemens putting in $3.17 billion.

For more information about the birth of Siemens Nokia Networks:
- read this article [1] from the AP via Forbes

Related Article:
Nokia and Siemens merge infrastructure biz. Report [2]