Taiwan s Chunghwa Telecom to sell stake in Siemens jv to Nokia Siemens
Posted by on Dec 2, 2007
Dec. 2, 2007 (Thomson Financial delivered by Newstex) — TAIPEI (XFN-ASIA) - Chunghwa Telecom (NYSE:CHT) Co Ltd (2412.TW) is planning to sell back its 15 pct stake in Siemens (NYSE:SI) Telecommunication Systems Ltd to Nokia (NYSE:NOK) Siemens Networks BV (NSN) for slightly over 300 mln twd, the Commercial Times reported. Now that Nokia is at the helm of NSN, it is seeking to assume decisive control of all Siemens joint ventures across the globe, the report said.
Chunghwa Telecom was a founding shareholder of Siemens Telecommunication Systems, which was established in 1973, it added. (1 usd = 32.30 twd) philip.wang@afxasia.com - xfnpw/xfjamesa Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.