Nokia Siemens Networks (NSN) said that it has completed a review of private equity interest in the company and has decided that it would not be receiving investment from an outside party. In a statement, Olli-Pekka Kallasvuo, its chairman (pictured), said: “we believe that the current shareholders are in the best position to further enhance the value of the company.” In addition to its ongoing efforts to cut costs, NSN “plans to take further steps to improve the competitiveness of the company as a standalone entity.” This will include “plans to drive further efficiency while strengthening the company’s innovation capabilities in mobile broadband, services and customer experience management to drive and support customer roadmaps.”

NSN has been in talks with potential private equity investors for some time, with the company stating that it had received unsolicited enquiries from suitors in the middle part of last year. However, in recent weeks it was reported that the company had failed to reach an accord with potential investors, against a backdrop of concern that senior partner Nokia was distracted by troubles in its own core businesses. It has been suggested that Siemens could take on a more active role in NSN, and that in the medium term an IPO may become a viable way for the shareholders to release some equity from the business. The infrastructure vendor has reported only two profitable quarters since its creation in 2007.