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Nokia to Buy Part of Panasonic’s Network Business

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Nokia said on Thursday it agreed to buy part of Panasonic’s (6752.T) telecoms network business to boost its operations in Japan, already a key market for the Finnish company.

The deal covers Panasonic’s mobile phone wireless base station system business for operators and a related wireless equipment network, Nokia said.

It did not disclose the value of the deal, which it expects to close at the start of next year.

The acquisition will “add significant value for Japanese operators,” Nokia Networks executive Ashish Chowdhary said in a statement. More at Reuters

Wahengbam Rorrkychand

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Website: http://www.blog.tonsetelecom.com

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