Nokia to buy part of Panasonic's network business

HELSINKI, July 31 Thu Jul 31, 2014 3:53am EDT

HELSINKI, July 31 (Reuters) - Finland's Nokia said on Thursday it had agreed to buy part of Panasonic's network business to boost its operations in Japan.

Nokia in a statement said the deal covers Panasonic's mobile phone wireless base station system business for operators as well as related wireless equipment system business.

It did not disclose the value of the deal which is expected to close at the start of next year. (Reporting by Jussi Rosendahl; Editing by David Holmes)