Siemens Telecom Sale Turning Sour

According to several sources it would appear that bidders are pulling out of the running for Siemens’ corporate telecoms division after finding Siemens’ price expectations for the loss-making unit too high.

Reuters for example reports that Cisco and Avaya, among others, are believed to have walked away from the sale process, which is being managed by Deutsche Bank and Morgan Stanley.

The unit was valued at around €2bn ($2.6bn) by analysts some months ago, but its valuation has come under pressure after another divested Siemens business, making mobile handsets, was attacked for failing to protect jobs. Another source says one of the remaining bidders asked Siemens to pay a dowry for taking the unit off its hands.

The following two tabs change content below.

admin

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam dignissim magna vitae dui posuere eu feugiat augue eleifend. Fusce sed tincidunt quam. Donec varius aliquam metus ut semper. Donec augue purus, feugiat interdum malesuada vel, aliquet quis massa. Nulla facilisi. Nam vel ante quam, et tincidunt dui. Maecenas venenatis libero eu nulla tincidunt et accumsan velit sodales. Nam congue mauris et felis porttitor blandit. Nam eget tempor massa. Nullam suscipit gravida eros, ac suscipit magna feugiat sit amet.

Latest posts by admin (see all)