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Shares in German engineering giant Siemens jumped more than 2 per cent Monday, after it announced it was ending its joint venture with Finnish mobile phone maker, Nokia.
Munich-based Siemens said it was selling its 50 per cent stake in Nokia Siemens Network (NSN) to Nokia for 1.7 billion euros ($ 2.2 billion).
The sale of Siemens’ stake in NSN, a high-speed mobile broadband operation founded in 2007, is expected to be completed in the third quarter.
Siemens’ shares rose 2.61 per cent to 79.88 euros after the sale was announced.
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