Nokia has completed its acquisition of Siemens’ stake in Nokia Siemens Networks.
The £1.5 billion deal, which was agreed last month, means that the former 50/50 joint venture is now wholly owned by Nokia.
Nokia Corporation and Siemens AG have agreed that Nokia will buy Siemens’ 50% stake of the Nokia Siemens Networks joint venture for €1.7 billion (£1.5 billion).
The deal is expected to be completed during the third quarter of this year, subject to regulatory approval.
Telefónica UK, which operates the O2 network, has chosen Nokia Siemens Networks to prepare it for 4G LTE roll-out in London and the South East of England.
It follows a 12-month trial of LTE technology across parts of London.
Nokia Corporation has published its quarterly results for the third quarter of 2012. Net sales were down 19% on the same quarter last year to €7.24 billion and the company made a much bigger loss than it did in Q3 2011: €576 million compared with €71 million last year.
However, the loss was less than the two previous quarters.
Everything Everywhere and Nokia Siemens Networks have announced a machine-to-machine partnership that will link vending machines to NSN's cloud-based VendMe service via Everything Everywhere SIM cards.
It allows vending machine owners to take advantage of remote stock monitoring, location-based promotional messages and mobile payments.