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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Floodwaters surround nuke plant after breach 26 Jun 2011 Brady Bunch mom got crabs in affair with NY mayor 25 Jun 2011 Greece to debate austerity package under EU pressure 3:29am EDT "Boil order" issued after Minot water supply breach | 26 Jun 2011 Nebraska residents shrug off flood risk to nuclear plant 26 Jun 2011 Discussed 219 Biden deficit-cut talks hit impasse: Rep. Cantor 137 CBO sees government benefits swamping U.S. economy 103 Fragile economy pushed Obama to tap oil reserves Watched French Fries and fat cakes for U.S. First Lady in Botswana Sat, Jun 25 2011 A Tokyo-Paris flight in under three hours on the horizon Fri, Jun 24 2011 Hefner's revenge; Ryan Reynolds stops traffic Fri, Jun 17 2011 Nokia, Siemens fail to secure investors: WSJ Tweet Share this Email Print Trade visitors gather at the Nokia booth during the CommunicAsia expo in Singapore June 21, 2011. Credit: Reuters/Tim Chong Related News Carlyle Japan eyes industrials, domestic deals Mon, Jun 20 2011 Exclusive: Carlyle to pick JPM, Citi, CS for IPO: sources Fri, Jun 17 2011 Leonard Green, CVC to submit bid for BJ's Wholesale Fri, Jun 17 2011 UPDATE 5-Carlyle IPO could raise $1 bln-source Wed, Jun 15 2011 Carlyle IPO could raise $1 billion: source Wed, Jun 15 2011 Analysis & Opinion Tech wrap: FTC seen deepening Google probe Deals wrap: VCs think IPO activity low Related Topics Technology » Deals » 2011 Q2 » Global Deals Review - Parent folder » Inflows Outflows » Media » PHILADELPHIA | Sun Jun 26, 2011 5:51pm EDT PHILADELPHIA (Reuters) - Nokia Corp and Siemens AG failed to secure a deal for investors for a controlling stake in their unprofitable joint venture, The Wall Street Journal reported on Sunday. The companies, which could not be immediately reached for comment, are now weighing investing more money in the venture, which is called Nokia Siemens Networks (NSN), the newspaper said in its electronic edition. Talks to sell a controlling stake in the venture, which is the world's No. 2 maker of wireless-networking gear, to a consortium that includes private-equity firms Gores Group LLC and Platinum Equity LLC are not expected to succeed, the newspaper said. "Any potential investor would need to see some light at the end of the tunnel with regards to profitability for NSN," Earl Lum, chief of telecom gear industry research firm EJL Wireless, told Reuters. "In light of the fact that the company has only recorded profitability in two quarters since 2007, we believe that investors are uncomfortable with the current valuation that Nokia and Siemens are seeking for NSN," Lum said. Nokia and German industrial group Siemens merged their telecom equipment businesses on a 50-50 ownership basis in 2007 in a six-year deal, hoping to quickly reach double-digit margins, but the venture has struggled to make a profit. Nokia and Siemens each owns half of the business, but Nokia holds four of the seven board seats. With Nokia Siemens Networks losing nearly $1 billion last year, the sale of a majority stake would have let Nokia eliminate a major drag on its financial results, the newspaper said. Siemens has been frustrated with its partner's inability to find a solution and Siemens could take control of the joint venture, the newspaper said. Private equity firms KKR and TPG still could strike a deal that would involve them taking a small stake in Nokia Siemens, the newspaper said. The Financial Times reported earlier this month that the two private equity firms had decided against bidding for a stake in the venture after failing to agree on price and level of control. Earlier this month, Nokia said it was in talks with "multiple parties" about its stake in Nokia Siemens Networks. (Reporting by Jessica Hall; Editing by Leslie Adler) Technology Deals 2011 Q2 Global Deals Review - Parent folder Inflows Outflows Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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