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Nokia May Sell Automotive Business |
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Written by Administrator
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Tuesday, 29 January 2008 |
ESPOO, FINLAND – Nokia is in negotiations to sell its automotive business to the former head of Nokia's enhancements unit and automotive business, Razvan Olosu, and Equity Partners GmbH.
If finalized, personnel will transfer from the current automotive business to the new company.
The parties anticipate the deal to close during the first half of the year, pending negotiations and approval. No financial terms of the deal were disclosed.
The announcement comes as Nokia faces sharp criticism from labor groups in Germany over its plans to close the plant.
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