NokiaSiemens Networks (NSN) is planning to increase as much as 700 million Euros or equivalent of $930 Million from public markets in the spring to pay down debt and fund investment.
The Financial Times said “ The high-yield bond will be the first time the Nokia and Siemens joint venture has tapped public markets and it will test the investor in the telecoms equipment maker ahead of possible listing .”
NSN has been turned around thanks to cost cuts and improved sales of higher margins network equipment gear to operators investing in faster 4G networks.
The Analysts said “the unit now looks an attractive proposition both for public investors and private equity firms, with estimates earlier this month that it could be worth well above 5 billion euros.'
Source: ca.yahoo.com
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