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Siemens to book 400 million euro gain from NSN stake sale: new CEO

FRANKFURT | Wed Jul 31, 2013 9:07am EDT

FRANKFURT (Reuters) - German engineering group Siemens' (SIEGn.DE) will book a one-time gain of about 400 million euros ($530 million) from the sale of its stake in Nokia Siemens Networks in its current financial year, its designated chief executive said.

That gain will be recorded in earnings from continuing operations, Joe Kaeser told journalists on Wednesday.

Siemens earlier named Kaeser, who is currently Siemens' finance chief, as its new boss after dumping Chief Executive Peter Loescher four years before the end of his contract following a second profit warning this year.

(Reporting by Maria Sheahan)

 
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