Finnish mobile phone manufacturer Nokia has offered to support German technologies group Siemens, its joint venture partner, with investigations into the corruption scandal at the German company. It emerged a few days ago that the planned merger of the network divisions of Siemens and Nokia could be delayed by three months until the end of March 2007 owing to the scandal relating to illegal transactions in the communications division of Siemens. The German company says that Nokia will play an active part in examining compliance structures, emphasising that the company’s reputation is one of its most valuable assets and that Nokia Siemens Networks will not tolerate unscrupulous business practices.
Siemens has emphasised that, in principle, the new joint venture will not be jeopardised by the delay. Experts have warned, however, that the scandal could prove expensive for Siemens, as the communications division of the group, Com, could lose contracts as a result.
Source: TMC Net
COUGH cover up COUGH; No body died, no one got fired, no one got hurt. All that happened was the equivalent of "I’ll scratch your back if you scratch mine" at the corporate level. If we aren’t allowed to do this in 2007 then people have some serious moral issues. If I had a business parter and appreciated the amount of money he has generated my company, you bet I’m going to give him a nice gift.