Nokia has completed the sale of Alcatel Submarine Networks (ASN) to the French State, marking the end of its ownership of the submarine communications company. The deal, completed on December 31, 2024, sees Nokia retain a 20 percent stake and board representation during a transition period, with plans for the French State to eventually acquire Nokia's remaining interest.
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Sale of Alcatel Submarine Networks
"With the sale of ASN, which is a successful, non-core standalone business, Nokia will be able to focus its Network Infrastructure portfolio on growth opportunities in its core markets," Nokia said in a statement on January 3, 2025.
Nokia's Business Portfolio
Nokia first announced the sale of ASN on June 27, 2024. The divestment enables Nokia to focus on core markets within its Network Infrastructure business. According to the official release, this move aligns with Nokia's strategy to actively manage its business portfolio, further evidenced by its planned acquisition of Infinera, also announced in June 2024.
"Beginning with the second quarter 2024, Nokia has accounted for ASN as a discontinued operation," the official release said.
ASN, a French and global submarine communication networks company, "grew significantly under Nokia's stewardship and is well positioned to continue benefiting from the growth of the large and attractive subsea cables market," Nokia said.
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French State's Commitment to Support ASN
Recognising the importance of ASN's heritage, operations and relationships with its key stakeholders, the French State has made clear its full support for ASN's management and strategy, ensuring ongoing investment and development of its vertically integrated technology offering, Nokia said.
