Nokia and Siemens plan to launch their network gear joint venture on 1 April, after a delay caused by a corruption probe at Siemens.
The companies put the deal on hold in December after European authorities began investigating bribery charges at the German technology company. The former head of Siemens' telecommunications equipment group, the division that will comprise half of the joint-venture company, was later arrested.
The companies said last June that they'd merge their telecommunications equipment groups and initially planned to launch the new company by the end of 2006.
As a result of the review of Siemens, the companies decided that the joint venture's compliance processes will be based on Nokia's systems and practices. Processes will include training programs, centralised reporting systems and approval processes for government business and for working with consultants in sales.
The companies also said yesterday that they'd increase their net asset contributions to the joint venture. Siemens will contribute €2.4 billion in assets and Nokia will contribute €1.7 billion. The companies will share an equal stake in the joint venture.
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