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Siemens to sell subsidiary to its JV with Nokia

MUMBAI: Power and automation major Siemens will sell its subsidiary Public Communication Networks Pvt. Ltd. to Nokia Siemens Networks India Pvt. Ltd., a 50:50 joint venture between Nokia and Siemens. The company would divest 124.25 lakh equity shares of Rs. 10 each amounting to 100 per cent stake, Siemens informed the Bombay Stock Exchange.

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