The Finland-based mobile company Nokia Corp. (NYSE: NOK) said Friday that it is in talks with several bidders for its Nokia Siemens Networks joint venture with Germany’s Siemens AG (NYSE: SI).
The Financial Times reported Friday that global private-equity investment firms Kohlberg Kravis Roberts & Co. and TPG had backed away from bidding for a majority stake in NSN. They dropped out after failing to agree both on price and the level of control over the company that could be worth several billion dollars, the newspaper reported.
The joint venture between Nokia and Siemens has euro12.7 billion in revenue, and is one of the world’s biggest telecommunication equipment makers. However the company is losing money.
Nokia itself has been the subject of speculation that it is up for sale, amid falling sales in its mobile business and a recent warning on its second quarter.
Shares of Nokia were trading lower by 0.48 percent to $6.26, along with Siemens losing 0.55 percent to $132 a share in the pre-market trading Friday.
