| Siemens to divest network biz to Nokia JV |
| Our Web Bureau / Mumbai November 23, 2006 |
| The board of directors of Siemens India, which met today, cleared a dividend of 190% i.e Rs 3.80 per share of Rs 2 each for the year ended September 30, 2006. The meeting approved a proposal to divest 100% stake comprising of 1,24,25,000 equity shares of Rs 10 each in its subsidiary, Siemens Public Communication Networks (SPCNL), Bangalore, to Nokia Siemens Networks India, a 50:50 joint venture company of Nokia and Siemens. "The decision has been taken consequent upon the announcement by Siemens AG, Germany for the merger of the networks business group of Nokia and Siemens |
