Cleary Gottlieb recently obtained EU and U.S. antitrust approval for the formation of Nokia Siemens Networks, which will combine Nokia Corporation’s and Siemens AG’s global mobile and fixed-line telecom network equipment businesses. Based on 2005 pro forma revenues, Nokia Siemens Networks will have a turnover of approximately €15 billion.
The deal brings together the global #2 and #3 mobile and fixed-line telecom network equipment providers in an industry that has undergone significant recent consolidation. Cleary Gottlieb continues to represent both Nokia and Siemens in obtaining antitrust approvals in a further 15 jurisdictions worldwide.