Nokia has accomplished the sale of Alcatel Submarine Networks (ASN) to the French State, marking the tip of its possession of the submarine communications firm. The deal, accomplished on December 31, 2024, sees Nokia retain a 20 p.c stake and board illustration throughout a transition interval, with plans for the French State to ultimately purchase Nokia’s remaining curiosity.
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Sale of Alcatel Submarine Networks
“With the sale of ASN, which is a profitable, non-core standalone enterprise, Nokia will have the ability to focus its Community Infrastructure portfolio on development alternatives in its core markets,” Nokia mentioned in a press release on January 3, 2025.
Nokia’s Enterprise Portfolio
Nokia first introduced the sale of ASN on June 27, 2024. The divestment permits Nokia to concentrate on core markets inside its Community Infrastructure enterprise. In response to the official launch, this transfer aligns with Nokia’s technique to actively handle its enterprise portfolio, additional evidenced by its deliberate acquisition of Infinera, additionally introduced in June 2024.
“Starting with the second quarter 2024, Nokia has accounted for ASN as a discontinued operation,” the official launch mentioned.
ASN, a French and world submarine communication networks firm, “grew considerably beneath Nokia’s stewardship and is effectively positioned to proceed benefiting from the expansion of the big and enticing subsea cables market,” Nokia mentioned.
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French State’s Dedication to Help ASN
Recognising the significance of ASN’s heritage, operations and relationships with its key stakeholders, the French State has made clear its full help for ASN’s administration and technique, guaranteeing ongoing funding and growth of its vertically built-in know-how providing, Nokia mentioned.
