Mumbai, Feb. 15: Siemens will pick up significant stakes in two group companies for Rs 206 crore.

Siemens will acquire a 100 per cent stake in its telecom company, Siemens Public Communication Networks Pvt Ltd (SPCNL), and a 51 per cent stake in Bangalore-based Siemens Shared Services Pvt Ltd (SSSPL).

The company has decided to purchase 1.24 crore shares of SPCNL for Rs 195 crore, which works out to around Rs 156.94 per share.

In SSSPL, Siemens will buy 21.23 lakh shares for Rs 11 crore or for Rs 52.26 per share.

Commenting on the decision to acquire SPCNL, Juergen Schubert, managing director of Siemens, said the telecommunication sector is growing at a healthy rate and SPCNL has emerged as one of the leading players in its area of operations.

?With this acquisition, the telecom businesses of Siemens in India ? now known as Siemens Com ? are consolidated,? he added. Siemens holds a leading market position in the enterprise network segment and the consolidation is expected to further strengthen the company's strategic position in the telecom market.

On the decision to buy into SSSPL, Schubert said the acquisition will help it provide enhanced value-added business processing services for its own operations and for its customers.