Nokia: French government acquires 80% stake in ASN

(CercleFinance.com) - Following several months of negotiations with Nokia, the French government has acquired an 80% stake in ASN (Alcatel Submarine Networks).


Antoine Armand, Minister of the Economy, Finance and Industry, today signed the contract with Nokia for the acquisition of an 80% stake in ASN.

The French government's majority stake in this operator is designed to guarantee the digital independence of France and its European partners.

ASN designs, manufactures, installs and maintains transoceanic and regional submarine telecommunications cables.

These cables use fiber optic technology to carry 99% of transcontinental data traffic.

ASN is one of the market leaders, with sales of over one billion euros.

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