Home News Arques is time for dispute settlement in the Siemens – Circles

Arques is time for dispute settlement in the Siemens – Circles

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Sc_upload_file_sosep200618_03_300dpi1_1416151FRANKFURT ( Dow Jones) – The dispute with Siemens Gigaset phone manufacturers to ensure the joint remains the investment company Arques more time to reach agreement than previously expected. An option that can bring Arques the remaining shares of Siemens Gigaset runs indefinitely and does not 30 September will be taken , such as Dow Jones Newswires by a person familiar with the matter has experienced person . (Photo : Siemens)

Even before the personnel changes at Arques, which has led to a new CEO and a new Chairman of the Supervisory Board, the Arques leadership had declared 30 September, the option to do drag . Arques so that could be used for only about 5000 EUR can get the outstanding 19.8% of Gigaset. Also in the 2009 Annual Report September 2010 called as the date on which the remaining shares to be transferred. At 30 September also ends the financial year from Siemens.
The former Arques management had repeatedly stated this to settle the dispute with Siemens and come to an amicable solution to do . In Arques – Annual Report , the solution to the conflict with the Gigaset former shareholders is explicitly listed as a building block of the "Strategy 2010 ". Siemens and Arques now remains for a possible agreement had time for an end to the option was not set , it was said by the informed person. spokesman declined to comment on the request is not an option.
Siemens Gigaset also like to the ongoing problem off the table and have come to an agreement , the exchange with the new Arques management is already running. "With the new leadership of Arques Industries AG are currently being held initial discussions on a possible solution of disputes , "said a spokesman.
Currently run arbitration proceedings in which it comes to outstanding payments to Siemens and the effectiveness of the agreed option. Even before the personnel changes in the top – Arques both parties had expressed a willingness to settle the arbitration. "Siemens is willing to find constructive solutions to ensure a sustainable economic security of the Gigaset , "said a spokesman for the Finance Group.

Web sites: www.siemens.com 
           www.arques.de 
 
- By Matthias Karpstein , Dow Jones Newswires, +49 89 55214030 , matthias.karpstein @ dowjones.com
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