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The use of multiple transmit and receive antennas in combination with multicarrier modulation, e.g. MIMO-OFDM, is a very promising technique for future wireless communication systems. In this work we investigate preamble based channel estimation under the presence of phase noise. Neglecting the influence of phase noise in the design of the preamble will lead to a significant loss in accuracy of the channel estimation. The solution involves an analysis of the mean square error approximation of the channel estimation and incorporating the result in the phase noise mitigation and data detection step.