German telecoms equipment firm Adva plans to split off security business -Handelsblatt

Adtran Holdings

01/02/2022 19:23

BERLIN, Feb 1 (Reuters) - Adva Optical Networking
 ADVOP.UL , which produces hardware and software for telecoms
networks, plan on splitting off its security-related business
into a subsidiary to avoid having a potential takeover blocked,
Handelsblatt reported on Tuesday.
    Germany's economy ministry is currently examining a takeover
offer by U.S. firm Adtran  ADTN.O , with a decision expected by
the summer, an Adva spokesperson told Handelsblatt.
    The economy ministry declined to comment to the newspaper.
    Adva produces components for 5G networks among other
products, falling under a government classification of future
technology sectors that are seen as critical to security.
    A planned takeover of German chip supplier Siltronic
 WAFGn.DE  by Taiwan's GlobalWafers  6488.TWO  collapsed late on
Monday after the deal did not receive regulatory approval on
time.  urn:newsml:reuters.com:*:nL1N2UC01H

 (Reporting by Victoria Waldersee
Editing by Paul Simao)
 ((Victoria.Waldersee@thomsonreuters.com;))