Fujitsu & Siemens Argue Over Price for Fujitsu Siemens
Siemens Wants Out of its 50-50 Fujitsu Siemens Joint Venture
By: Maureen O'Gara
Oct. 15, 2008 10:45 AM
Strung-out scandal-ridden Siemens wants out of its 50-50 Fujitsu Siemens joint venture.
The two companies are negotiating but Reuters says Fujitsu doesn’t want to pay Siemens’ asking price for the German-based concern. So Siemens has also reportedly been having back-up talks with Lenovo, Dell and Acer, all of which want to deepen their European businesses.
Over the weekend Euro am Sonntag, the German paper, reported that Fujitsu, if it comes to terms, would sell off the joint venture’s end-user business and keep the commercial end. It identified Lenovo as a possible buyer. Acer beat out Lenovo for the much cheaper Packard Bell last year.
Analysts have valued the joint venture between 800 million and 1.6 billion euros. Dow Jones says Siemens wants at least 500 million euros (close to $725 million) for its stake. Siemens is letting it out that it doesn’t have to sell.
Siemens has felt that Fujitsu Siemens wasn’t profitable enough.
By the way, Fujitsu Siemens just got a managed services contract from Daimler for all of the car maker’s data centers in
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