IN BRIEF: Proposed joint venture delayed

Siemens and Atecs Mannesmann’s proposed joint venture between their automotive systems and industrial businesses has been delayed after Mannesmann’s board failed to approve the scheme. Klaus Esser, head of Mannesmann, had argued that the venture would strengthen the company’s prospects for flotation on the stock market.

Siemens and Atecs Mannesmann’s proposed joint venture between their automotive systems and industrial businesses has been delayed after Mannesmann’s board failed to approve the scheme. Klaus Esser, head of Mannesmann, had argued that the venture would strengthen the company’s prospects for flotation on the stock market.