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Nokia Siemens to sell venture

Nokia Siemens Networks is selling its optical networking business to private equity firm Marlin Equity Partners, in order to focus more on mobile broadband. The transaction is expected to close next quarter and will establish the optical unit as an independent company. Nokia (NOK) and Siemens (SI) formed the joint venture in '07 to build products for telecom and computer networks. In late '11, it announced plans to cut a quarter of its workforce and it began a 400-job cut in Finland in Sept. Nokia shares were flat. Siemens shares fell 0.1%.