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Nokia Considering Nokia Siemens Networks IPO

Finnish mobile giant Nokia has revealed that a public listing of the Nokia Siemens Network is an option the company is currently pondering over.

The disclosure from the company follows the earlier announcement by Siemens AG and Nokia that they were going to pour in EUR500 million each into the joint venture. The companies also revealed their decision of appointing Jesper Ovesen as the new chairman of Nokia Siemens Network. Ovesen will be replacing Olli-Pekka Kallasvuo.

James Etheridge, a spokesperson from Nokia stated that the primary goal of the new chairman would be to revamp the status-quo of the financial aspects of NSN, and turn it into a "more stand-alone" unit. He also explained that an initial public offering of NSN could be implemented by Nokia and Siemens if the need arises in the future.

"However, the first priority for the chairman and the chief executive of NSN is to improve the company's competitiveness and profitability," Etheridge said, according to a Wall Street Journal report.

"An IPO is something that needs to be considered for NSN. And now there is a person on the board of NSN with the right experience and contacts needed for a listing," Bank analyst Mikko Ervasti said, referring to Ovesen’s background and experience.