Nokia Siemens Deal Is Off

One great mobile company, one decent mobile company (with strengths in many other areas), Nokia and Siemens were due to follow the path set by Sony Ericsson in previous years and merge into ‘Nokia Siemens Networks’ in the new year but now, according to the New York Times, its not going to be the case.

Reason being is that Nokia are waiting to see the result of the ongoing bribery scandal at Siemens.

From the NY Times

In light of the current investigations of Siemens, the scope of which includes the carrier-related business to be transferred to the new company, Nokia and Siemens intend to adjust their agreements in order to have Siemens conduct an appropriate compliance review prior to closing of the transaction,” the company said in a statement. “This adjustment is an addition to the previously agreed closing conditions. Nokia will participate actively in the review.

It is the mobile divisions of each company that are to be merged and, all things going to plan, Nokia hope to have the deal finalised by March 2007.