Nokia-Siemens Merger Delayed

The merger between Nokia and Siemens' networking divisions has been postponed due to an ongoing investigation at Siemens over charges of bribery. Several former Siemens executives have already been arrested as a result of the investigation, which includes the division that would become part of the new company. Nokia expressed its concern with the issues, and said it would participate a review to ensure there are no remaining issues.

"Nokia and Siemens intend to adjust their agreements in order to have Siemens conduct an appropriate compliance review prior to closing of the transaction," the company said in a statement. The results of such a review would be used to prevent the issues from occurring within the new company, it said.