The sale of ASN – which stands for Alcatel Submarine Networks -, was announced in June of last year, and completed on December 31. According to a statement from Nokia, the sale “allows [us] to focus the portfolio of [our] network infrastructure business group, while positioning ASN strongly to build on the transformation achieved while part of Nokia.”
The company will retain a 20 per cent shareholding in ASN, as well as board representation until a “targeted exit.” The French state was represented by the Agence des participations de l'Etat.
Discussing the transaction, a spokesperson said: “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.
“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.”
The spokesperson continued: “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. It has agreed to maintain investment in the ASN business and to support the further sustainable development of its vertically integrated technology offering."
