NEW YORK, July 18 (Reuters) - Motorola Inc is close to selling most of its wireless-network equipment business to Nokia Siemens Networks for $1.2 billion, the Wall Street Journal reported on Sunday, citing people familiar with the matter.
The report on www.wsj.com said an announcement could be made as early as Monday on a deal that would offer Nokia Siemens Networks a long-coveted foothold in Japanese and U.S. markets.
Under the proposed deal, Nokia Siemens Network, a joint venture of Finland's Nokia Corp and Germany's Siemens AG, would buy Motorola's network unit, the newspaper reported.
The unit includes equipment that wirelessly transmits voice data and video on both the CDMA and GSM technologies used around the world.
The report cited the people familiar with the deal as saying Motorola plans to keep its 'push to talk' technology known as iDEN, which is used by Sprint Nextel in the U.S. and Nextel International in Latin America in phones with two-way radios.
(New York Equities desk +1-646-223-6000; editing by Gunna Dickson) Keywords: MOTOROLA/NOKIASIEMENS
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The report on www.wsj.com said an announcement could be made as early as Monday on a deal that would offer Nokia Siemens Networks a long-coveted foothold in Japanese and U.S. markets.
Under the proposed deal, Nokia Siemens Network, a joint venture of Finland's Nokia Corp and Germany's Siemens AG, would buy Motorola's network unit, the newspaper reported.
The unit includes equipment that wirelessly transmits voice data and video on both the CDMA and GSM technologies used around the world.
The report cited the people familiar with the deal as saying Motorola plans to keep its 'push to talk' technology known as iDEN, which is used by Sprint Nextel in the U.S. and Nextel International in Latin America in phones with two-way radios.
(New York Equities desk +1-646-223-6000; editing by Gunna Dickson) Keywords: MOTOROLA/NOKIASIEMENS
COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.