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KKR, TPG Back Off From Nokia Corporation And Siemens AG's Nokia Siemens Networks's Majority Stake-DJ
Dow Jones reported that Kohlberg Kravis Roberts & Co. and TPG have backed away from bidding for a majority stake in Nokia Siemens Networks, after failing to agree both on price and the level of control over the company, the Financial Times reported on Thursday. The withdrawal leaves only the Gores Group and Platinum Equity L.L.C. as the remaining consortium bidding for the joint venture (JV) between Nokia Corporation and Siemens AG. Nokia Siemens Networks, a 50-50 JV between Nokia Corporation and Siemens AG.
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