FRANKFURT, July 31 Siemens expects to
pick investment banks for the flotation of its hearing aids
business soon, its chief executive said on Thursday after the
German engineering group published quarterly financial results.
"We will mandate investment banks in the coming days and
weeks to start the so-called beauty contest. We will choose two
or three banks and then initiate the process, the way that
Siemens did with Osram," Chief Executive Joe Kaeser told
journalists during a conference.
He said Siemens had not yet decided whether to divest the
unit via an initial public offering or a spin-off.
(Reporting by Maria Sheahan; Editing by Jonathan Gould)