Joint venture launch Nokia/Siemens

Heise: The launch of the network infrastructure joint venture between Nokia and Siemens will be delayed by the corruption scandal that has engulfed the German group. The launch was now expected to take place in the first quarter of 2007, Nokia and Siemens declared in Espoo in Finland yesterday. Until recently the two companies had assumed that the joint venture would commence operations at the beginning of next year. The reason for the delay was the corruption scandal Siemens was having to deal with, the companies stated. The scandal extended to Siemens divisions that are to form part of the new company, the companies explained. Nokia would contribute to the effort to clear up the allegations, it was said.

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