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Cisco mulls buying Finnish phone maker Nokia-paper
Sun Aug 7, 2005 7:38 AM ET
LONDON, Aug 7 (Reuters) - Cisco Systems Inc. (CSCO.O: Quote, Profile, Research) is considering buying the world's top mobile handset maker Nokia (NOK1V.HE: Quote, Profile, Research) in a bid to gain its wireless infrastructure technology, the Business newspaper reported on Sunday.
The paper, which did not reveal the source of its information, said U.S.-based Cisco had traditionally concentrated on acquisitions of niche technology players, but its Chief Executive John Chambers is believed to be interested in merging with a wireless infrastructure company.
"Nokia has been identified as the most likely target," the paper said.
Cisco, the largest maker of Internet equipment, is worth around $123 billion, while Nokia's market value is around $71 billion.
The paper said Cisco's mainstay networking market was fast changing with the convergence of fixed-line and wireless networks, and Cisco needed a merger to acquire the technology to create intelligent wireless applications, which Finnish-based Nokia could provide.
Cisco was not immediately available for comment. A Nokia spokeswoman in Helsinki declined to comment.
(Additional reporting by Ott Ummelas in Helsinki)
http://today.reuters.com/investing/..._L07557518_RTRIDST_0_TELECOMS-CISCO-NOKIA.XML
Sun Aug 7, 2005 7:38 AM ET
LONDON, Aug 7 (Reuters) - Cisco Systems Inc. (CSCO.O: Quote, Profile, Research) is considering buying the world's top mobile handset maker Nokia (NOK1V.HE: Quote, Profile, Research) in a bid to gain its wireless infrastructure technology, the Business newspaper reported on Sunday.
The paper, which did not reveal the source of its information, said U.S.-based Cisco had traditionally concentrated on acquisitions of niche technology players, but its Chief Executive John Chambers is believed to be interested in merging with a wireless infrastructure company.
"Nokia has been identified as the most likely target," the paper said.
Cisco, the largest maker of Internet equipment, is worth around $123 billion, while Nokia's market value is around $71 billion.
The paper said Cisco's mainstay networking market was fast changing with the convergence of fixed-line and wireless networks, and Cisco needed a merger to acquire the technology to create intelligent wireless applications, which Finnish-based Nokia could provide.
Cisco was not immediately available for comment. A Nokia spokeswoman in Helsinki declined to comment.
(Additional reporting by Ott Ummelas in Helsinki)
http://today.reuters.com/investing/..._L07557518_RTRIDST_0_TELECOMS-CISCO-NOKIA.XML