Bribery investigation sets back Nokia-Siemens deal
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Siemens' telecommunications unit will undergo a compliance review, setting back its proposed merger with Nokia's networks group until early next year.
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Shares in Siemens have been lower on the stock exchange after the German engineering giant was forced to restate its full-year earnings to take into account charges connected with the alleged slush fund and embezzlement scandal at the company.
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MUNICH, Germany : German electronics giant Siemens said that financial burdens connected with a technical fault in its new mobile phone handsets were likely to reduce earnings in the final quarter of its business year ending in September.
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After Qualcomm rejected a $20 million payment from Nokia made with the intention of extending a license to use the network chipset provider's WCDMA technologies, Nokia responded this morning by countersuing Qualcomm. It claims some of the underlying technology in Qualcomm's chipsets actually belongs to Nokia.
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Two new investigations Siemens has revealed that it is under investigation by the US Department of Justice over allegations that it paid out some â¬420m in bribes to help it secure telecoms contracts outside of Germany.â¦
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A corruption affair that has shaken  German industrial conglomerate Siemens AG (SIEGn.DE) has spread  to the United States with investigations by the U.S. Department  of Justice and Securities and Exchange Commission.
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(InfoWorld) - The planned merger of network infrastructure units at Nokia and SiemensÂ won't close by the end of this year as expected because the companies will execute a compliance review of Siemens, spurred by the corruption investigation currently shaking the German technology company. Authorities across Europe have been investigating bribery charges at Siemens. Earlier this week, the former head of Siemens' telecommunications equipment group -- the one to be merged with Nokia's networks unit -- was arrested as part of the investigation. The companiesÂ announced plans in June to merge the groups, creating a company called Nokia Siemens Networks that would have had combined revenues in 2005 of â¬15.8 billion ($20.9 billion). They said at the time that the deal would close by the end of the year and that the new company would begin operations in January. They now say they expect to close the deal and begin operations in the first quarter of 2007, meaning possibly as late as March. Closing the deal depends in part on the result of a compliance review of the Siemens unit, which Siemens plans to conduct in the first quarter. The review will also produce a compliance program that the new company will implement. Antitrust authorities in the U.S. and the European Union have already approved the merger, and the companies have announced many of the executives who will lead Nokia Siemens Networks. As recently as mid-November the companies were saying they expected to begin their combined operations in January.
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Nokia (NOK1V.HE), the world's biggest  mobile phone maker, said on Tuesday the United States  International Trade Commission (ITC) has ordered a stay of  wireless chip supplier Qualcomm's  suit against Nokia.
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Siemens has reported buoyant financial results but is immersed in a fast-expanding corruption scandal that threatens to torpedo its reputation.
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DUESSELDORF, Germany  - The German state of North  Rhine-Westphalia and Nokia   will seek  "innovative solutions" for a plant that the Finnish mobile  phone group plans to close to cut costs, the state said on  Monday.
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A German court stayed a patent-infringement case that Qualcomm filed against Nokia, as hearings regarding a similar case in the U.S. International Trade Commission suit continue.
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Ongoing investigation leads companies to put off  merger of their wireless-equipment units until March.
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German engineering giant Siemens reportedly paid bribes to officials in the Greek interior and defence ministries linked to a contract it won for the Athens Olympics.
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Nokia , the world's biggest  mobile phone maker, said on Tuesday the United States  International Trade Commission (ITC) has ordered a stay of  wireless chip supplier Qualcomm's  suit against Nokia.
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Qualcomm scored a minor victory in its continuing spat with Nokia when a judge last week recommended ending&#160;the investigation Nokia brought&#160;against it in August for infringing patents.In August, Nokia asked the U.S. International Trade Commission (ITC) to&#160;ban the import of Qualcomm chip sets&#160;used in cell phones, including 3G (third-generation handsets), for allegedly infringing on five patents held by Nokia.ITC Administrative Law Judge Paul Luckern granted Qualcomm a motion to terminate the investigation, as the companies are already in arbitration to settle a dispute behind a technology license the two companies signed earlier. If the decision stands after a 30-day review, Qualcomm won&#39;t be prevented from importing its chip sets into the U.S.Nokia originally requested ITC to initiate an investigation against Qualcomm for infringing patents and issue an exclusion order to bar the import of infringing Qualcomm chip sets into the U.S.For two years now, the spat between the two companies over patent licensing has led to several lawsuits.Last year,&#160;Qualcomm filed a complaint with the ITC against Nokia over GSM&#160;(Global System for Mobile Communication) patents.The ITC is already investigating Nokia after&#160;InterDigital complained that Nokia infringed&#160;two of its 3G wireless technology patents. The commission also&#160;banned some Qualcomm imports&#160;in June, after&#160;complaints from Broadcom for patent infringement.
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Nigeria cancels a contract and suspends dealings with Siemens, pending a probe into bribery allegations.
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TheÂ bribery scandals at SiemensÂ have forced the resignation of a former senior executive who left the company nearly two years ago to head the IT services subsidiary of German telecommunications operator Deutsche Telekom.ADVERTISEMENTIBM Information On Demand 2006Industrial Industry Leaders, please join us at IBM's premier information management global event, IBM Information On Demand 2006, October 15-20, Anaheim, CA. More IBM business and technical solutions content in one place than ever before! Select from  over 800 sessions. Register today!