Siemens mobile unit investor found

Jun 05 2005 - 06:23 PM ET | Siemens
An article today in the German news paper Frankfurter Allegmeine Sonntagszeitung says that Siemens will spin-off it's unprofitable mobile unit with the help of an Asian manufacturer. The name of the other party will be announced once the deal is actually done--early reports point to Tuesday as a likely date. Names mentioned in past rumors that still seem likely at this date include LG, Ningbo Bird, Pantech and possibly Samsung. In April, Siemens announced the mobile unit would spin-off in a move aided by an outside investment.