Nokia Siemens Networks to sell Dasan stake

Aug 28, 2008 (DMEUROPE via COMTEX) -- DSANF | Quote | Chart | News | PowerRating -- Nokia Siemens Networks and Dasan Networks have signed a share purchase agreement upon completion of which Dasan Invest, Dasan TPS, Skylake and certain individual Korean investors will acquire all of Nokia Siemens Networks shares in Dasan Networks.

Nokia Siemens Networks shares represent 56.13 per cent of all the shares of the company. With the acquisition completed, these Korean investors will hold 60.83 per cent of the shares of the company. The remainder of the shares are held by various shareholders.

Nokia Siemens Networks will continue close cooperation with Dasan Networks through an Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM) agreement. Dasan products will remain part of broadband access solution and product portfolio and this agreement will not lead to changes in terms of customer support and contracts related to Dasan Networks portfolio, a Nokia Siemens Networks official said.

Distributed for DMeurope.com via M2 Communications Ltd (www.m2.com)

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