Nokia Siemens to buy Motorola wireless gear unit (AP)

By PETER SVENSSON 2010-07-19T13:18:25Z NEW YORK (AP) -- Motorola Inc. said Monday that it is selling most of its wireless network division to Nokia Siemens Networks, a Finnish-German joint venture, for $1.2 billion as part of a planned breakup of the company....

Larry Dignan (ZDNet) submits: In another step toward its breakup, Motorola (MOT) on Monday unloaded its wireless networking unit to Nokia Siemens Networks for $1.2 billion.

By Zacks.com: Nokia Siemens Networks (NSN), a 50-50 joint venture between Nokia Corp. (NOK) and Siemens AG (SI), recently suffered a massive blow.

Zacks.com submits: As part of the spin-off of its mobile-phone business, Motorola Inc. (MOT) has planned a reverse stock split to help increase the share price.

Nokia Siemens Networks is to buy most of the wireless network infrastructure assets from US firm Motorola for 1.2 billion dollars (926 million euros) to bolster its rank as number two in the sector, it said on Monday.The German-Finnish telecom equipment company said the move would strengthen its position as world number two in the telecom infrastructure segment.

Alcatel-Lucent CEO Verwaayen stepping down as group sinks to hefty 2012 loss PARIS (AP) — Alcatel-Lucent CEO Ben Verwaayen is leaving the loss-making French-U.S. telecommunications gear maker after a failed four-year bid to turn the business around.

Finnish-German giant Nokia Siemens Networks (NSN) said Wednesday its purchase of Motorola's wireless network infrastructure assets would be delayed again, with no timeline specified for completion of the deal."Nokia Siemens Networks remains committed to the acquisition but will provide no further guidance on when it is likely to be completed," the company said in a statement, adding it was still waiting for approval from Chinese regulatory authorities.