Nokia completes sale of subsea cable unit ASN

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.