Nokia: about to sell ASN to French government

(CercleFinance.com) - Network equipment supplier Nokia says it has signed a put option to sell its Alcatel Submarine Networks (ASN) business to the French state, for an enterprise value of E350m.


The Finnish group will retain a 20% stake with board representation to ensure a smooth transition until the targeted exit, when the French state will acquire Nokia's remaining stake.

By divesting ASN, a stand-alone business deemed non-core, Nokia can focus its network infrastructure portfolio on growth opportunities in its key markets and further improve the profitability of its network infrastructure division.

The sale is expected to close in late 2024 or early 2025, subject to formal consultation with ASN's French works council and other customary closing conditions and regulatory approvals.


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