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Nokia sells submarine networks business ASN to French state

Published by Uma Rajagopal

Posted on June 27, 2024

1 min read

· Last updated: January 30, 2026

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Nokia submarine networks business sale announcement - Global Banking & Finance Review
This image captures the announcement of Nokia's sale of its submarine networks business ASN to the French state for 350 million euros, highlighting significant shifts in the telecommunications industry.
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Nokia sells submarine networks business ASN to French state COPENHAGEN (Reuters) – Nokia on Thursday said it had agreed to sell its submarine networks business ASN to the French state for 350 million euros ($374 million), but that the deal would not impact its financial outlook. Nokia expected the divestiture to reduce sales in its […]

Nokia sells submarine networks business ASN to French state

COPENHAGEN (Reuters) – Nokia on Thursday said it had agreed to sell its submarine networks business ASN to the French state for 350 million euros ($374 million), but that the deal would not impact its financial outlook.

Nokia expected the divestiture to reduce sales in its Network Infrastructure Business Group by 1 billion euros, it said.

The sale is expected to close at the end of 2024 or beginning of 2025, Nokia added.

($1 = 0.9352 euros)

(Reporting by Louise Breusch Rasmussen; editing by Jason Neely)

Frequently Asked Questions

What is a divestiture?
A divestiture is the process of selling off a subsidiary or business unit. Companies often divest to streamline operations, raise capital, or focus on core business areas.
What is a financial outlook?
A financial outlook refers to a company's projected financial performance over a specific period, including expected revenues, expenses, and profitability.
What is a business acquisition?
A business acquisition occurs when one company purchases another company, allowing the acquiring company to expand its operations, market share, or product offerings.
What is network infrastructure?
Network infrastructure encompasses the hardware and software resources that enable network connectivity, communication, operations, and management of an enterprise network.

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