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Nokia to buy part of Panasonic's wireless network business

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HELSINKI - Finnish wireless equipment maker Nokia says it has a preliminary agreement to acquire part of the wireless network business of Japan's Panasonic Corp.

No financial value for the deal was given.

Nokia said Thursday that the two companies aim to finalize the deal by September and close it by the end of the year.

The deal covers the base station operations of Panasonic System Networks Co. Ltd., including equipment for wireless control systems.

Nokia Corp. said the deal will boost the market share of its networks unit, a major provider of the next generation 4G wireless networks, particularly in the Japanese market.

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