Nokia Siemens Networks (NOK) is in talks with several private equity firms about the sale of a minority stake in the company in order to raising $1 billion in cash, according to reports.
According to people familiar with the matter, these “exploratory” talks began just days after the company said it would acquire Motorola Inc’s telecom equipment division for $1.2 billion, a merger designed to make the company more attractive to buyout firms, the Wall Street Journal reported Friday.
The list of firms Nokia has been in contact with includes Silver Lake Partners, TPG, Blackstone, Bain Capital and KKR. Nokia is reportedly offering a potential one-third ownership stake, these people told the Journal.
Shares of Nokia rose 29 cents or 3.15% in Friday’s session, closing the week out at $9.51 a share, but the stock was down a penny in after-hours trading. Siemens AG shares rose 37 cents or one-half a percent to close the week at $74.79.
