Nokia announces that it has concluded the sale of Alcatel Submarine Networks (ASN), a leading submarine networks business, to the French State, represented by the Agence des participations de l’Etat. The transaction was completed on 31 December 2024. Nokia retains a 20% shareholding with board representation to ensure a smooth transition until targeted exit, at which point it is planned for the French State to acquire Nokia’s remaining interest.

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With the sale of ASN, which is a successful, non-core standalone business, Nokia will be able to focus its Network Infrastructure portfolio on growth opportunities in its core markets. Together with the planned acquisition of Infinera – also announced in June 2024 – the divestment demonstrates Nokia’s active management of its business portfolio, one of the company’s six strategic pillars.

Beginning with the second quarter 2024, Nokia has accounted for ASN as a discontinued operation.

ASN is a French and global submarine communication networks leader, uniquely positioned in turnkey systems. It grew significantly under Nokia’s stewardship and is well positioned to continue benefiting from the growth of the large and attractive subsea cables market.

Recognizing the importance of ASN’s heritage, operations and relationships with its key stakeholders, the French State has made clear its full support for ASN’s management and strategy, and has agreed to maintain investment in the ASN business and to support the further sustainable development of its vertically integrated technology offering.

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Source- Globenewswire