Nokia, Siemens reaffirm joint venture ownership

HELSINKI - July 13, 2011 (WPVI) -- Nokia Siemens Networks says its two founding owners are committed to keeping their stakes and ruled out any outside equity investment.

Nokia Siemens Networks chairman Olli-Pekka Kallasvuo said Wednesday that the two owners are in the best position to improve the company's value.

The mobile infrastructure provider is a 50-50 joint venture between Finland's Nokia Corp. and Germany's Siemens AG.

Market watchers have speculated that Nokia would want to dispose of its ownership in the venture and focus on developing its handset business while deepening co-operation with Microsoft Corp.

The world's leading handset maker Nokia has seen its market share decline in past years amid stiff competition in the smartphone segment.

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