German industrial group Siemens is in talks with several companies interested in buying its telecommunications systems unit SEN, which faces a major restructuring, its chief executive said on March 07.
"We want to sell SEN and are holding very advanced discussions with interested" parties, said Peter Loescher in an interview with the Die Welt newspaper.
Problems with SEN, Loescher said, "have been on the agenda at Siemens since mid-2006. It is time to clarify things, especially for the staff".
SEN, which offers communications systems including telephone, fax and Internet access to businesses, has lost more than one billion euros (1.5 billion dollars) in two years, he said.
In late February, Siemens announced a large-scale restructuring of SEN that included the departure of 6,800 workers from a total of around 17,500.