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Siemens’s Nokia Deal Said to Boost Profit by 300 Million Euros

Siemens AG (SIE)’s earnings this year will be boosted by about 300 million euros ($395 million) from selling a stake in Nokia Siemens Networks, people familiar with the matter said.

Siemens, which announced the 1.7 billion-euro sale of 50 percent in the phone-equipment venture to Nokia Oyj (NOK1V) this month, will include gains from the deal in its net income from continuing operations, the people said, asking not to be identified as the matter is not public.

Siemens is scheduled to report fiscal third-quarter earnings on Aug. 1.

To contact the reporter on this story: Simon Thiel in London at sthiel1@bloomberg.net

To contact the editor responsible for this story: Simon Thiel at sthiel1@bloomberg.net

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