Siemens pulls out of venture

Siemens has pulled out of a fibre-optic venture with H share Chengdu Telecommunications Cable despite its continuing commitment to help China build its railway and telecoms infrastructure. Siemens will sell its 50 per cent interest in Siemens Optical Fibre Cables to Corning International. Chengdu Telecom will maintain the remaining interest in Siemens Optical.