Report: Cerberus Eyes Siemens Enterprise Networks

Cerberus is the most likely buyer for Siemens AG's Siemens Enterprise Networks (SEN) unit, WirtschaftsWoche reported, citing supervisory board sources.

Other interested parties, including Nortel and Alcatel-Lucent, cannot offer long-term growth perspectives for SEN, the magazine said in an excerpt of an article to be published on Saturday.

If Siemens fails to find a buyer for SEN by the end of June, the company will be forced to consolidate again the business in its earnings for the full year beginning on July 1, it said.

In the fiscal year 2007, SEN's sales fell 10% to EUR 3.2bn, leading to a loss that widened to EUR 600m from EUR 418m, it said.

Siemens last month said it is planning to cut 3,800 jobs at SEN, of which up to 2,000 will be shed in Germany.

In addition, the company will outsource 3,000 jobs at the unit, 1,200 of them in Germany.