Nokia has completed the sale of Alcatel Submarine Networks (ASN), which deals with submarine cables, to France. The deal, closed on December 31, 2024, brought the Finnish company €350 million ($363 million), Datacenter Dynamics reports. Nokia will temporarily retain a 20% stake and a seat on the board of directors, which will ensure a “smooth transition” of ownership to the Agence des parties de l’Etat (APE).
Last June, Nokia announced the planned sale of ASN, simultaneously announcing the purchase of Infinera for $2.3 billion. Both transactions will allow the Finnish company to concentrate its activities in the network infrastructure segment. The corresponding business line consists of three divisions: Fixed Networks, IP Networks and Optical Networks.
Image source: ASN
With a number of mergers and acquisitions, ASN’s history dates back to the late 1800s. Modern Alcatel-Lucent was purchased by Nokia in 2015. In total, ASN has laid more than 750 thousand km of submarine cables around the world. The company’s fleet consists of seven specialized vessels. ASN is confident that the transition to the management of APE will allow the company to become a strong player in the global market under the patronage of the French state.
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Source: 3dnews.ru
