Nokia has officially completed the sale of Alcatel Submarine Networks (ASN) to the French State, represented by the Agence des Participations de l’État.
The transaction allows Nokia to retain a 20% stake and board representation to facilitate a seamless transition. The remaining interest will be acquired by the French State in the future.
Build Up: Nokia Initiates Sale of Alcatel Submarine Networks (ASN) to French State
The divestment of ASN, a thriving but non-core standalone business, enables Nokia to sharpen its focus on its core network infrastructure portfolio and capitalize on growth opportunities in key markets.
Alongside the June, 2024, announcement of Nokia’s planned acquisition of Infinera, this sale highlights the company’s proactive management of its business portfolio—a core component of its six strategic pillars.
In the second quarter of 2024, Nokia labeled ASN as a discontinued operation.
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ASN has thrived under Nokia’s ownership, achieving significant growth and cementing its position in the subsea cable market. The French State has expressed its full commitment to preserving ASN’s heritage, supporting its management and strategy, and ensuring sustained investment in its vertically integrated technology offerings. This backing aims to further drive ASN’s development in the rapidly growing submarine cable industry.
