NSN CEO denies hunt for investors

Michael Carroll | August 31, 2010

telecomseurope.net

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The boss of Nokia Siemens Networks said the firm has not sought private equity investment, claiming that firms have been attracted by its strong performance.

Rajeev Suri, CEO, said private investors approached the firm after it gained market share in key segments and established itself as a front runner in the LTE market during a telecoms conference in Spain yesterday.

“I take this unsolicited interest as a testament to the progress we are making,” Suri said.

The comment appears to deny reports Nokia Siemens has sought out investors to raise $1 billion (€788 million) to cover the bulk of its $1.2 billion acquisition of Motorola’s wireless business and to help integrate the US firm’s business.

Suri also revealed Nokia Siemens is establishing a smartphone laboratory at a Telefonica facility in Madrid, to research the optimal configuration of devices, applications and infrastructure.

The laboratory will produce guidelines designed to tackle potential future network problems caused by growing smartphone use.

Suri says the collaboration with Telefonica is important because Spain is one of the world’s fastest growing smartphone markets, “outpacing Germany, Sweden, the UK and US.”

Operators must act quickly to address growing smartphone penetration, Suri added, noting that 150 million of Facebook’s 500 million users already access the site on their mobile phone.

“Finding ways to support the 10,000 percent increase in smartphone generated data traffic by 2015 is vital for operators worldwide,” he said.

Source:

Michael Carroll