Wednesday May 28, 04:36 PM
Siemens plans to sell SEN unit by the end of June - report
FRANKFURT (Thomson Financial) - Siemens AG (Xetra: 723610 - news) . is planning to sell its Siemens Enterprise Communications (SEN) unit by the end of June, manager magazin reported, citing no sources.
In addition, the magazine refuelled earlier speculation that U.S. private equity company Cerberus is most likely to succeed in a bid for the unit, with Nortel Networks Corporation (NT.TO - news) also being still interested.
In February, the company said it is planning to cut 3,800 jobs at SEN, of which up to 2,000 will be shed in Germany. In addition, the company will outsource 3,000 jobs at the unit, 1,200 of them in Germany.
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