Nokia is to acquire Siemens' 50 percent stake in joint venture Nokia Siemens Networks, which will become a wholly owned subsidiary of the Finnish company after the transaction is completed. The handset maker is paying 1.7 billion ($2.2 billion) to acquire the stake in the mobile networks equipment company. The Siemens name will be phased out, and a new name and brand will be announced at the closing of the transaction expected by the third quarter of this year.