Nokia has completed the sale of its subsea cable unit, Alcatel Submarine Networks (ASN), to the French State and said the transaction has netted it around €350 million ($363m). Nokia noted that it retains a 20 percent shareholding in ASN, with board representation, to "ensure a smooth transition until targeted exit."
"Together with the planned acquisition of Infinera – also announced in June 2024 – the divestment demonstrates Nokia’s active management of its business portfolio, one of the company’s six strategic pillars," a Nokia statement said.
Nokia's Network Infrastructure Business Group will comprise three units: Fixed Networks, IP Networks and Optical Networks. The deal is expected to reduce the group's net sales by approximately €1bn ($1bn) but will increase its operating profit margin by 100 to 150 basis points.
