Press Release
Nokia completes its sale of leading submarine networks business, ASN (Alcatel Submarine Networks), to the French State
Nokia announced the sale of ASN on 27 June 2024. The transaction allows Nokia to focus the portfolio of its Network Infrastructure business group while positioning ASN strongly to build on the transformation achieved while part of Nokia
- Focuses the portfolio of the Network Infrastructure business group.
- Ensures continued development of a strategic, market-leading French and European business.
- Nokia will retain a 20% shareholding and board representation until targeted exit to ensure a smooth transition.
3 January 2025
Espoo, Finland - Nokia today announces that it has concluded the sale of Alcatel Submarine Networks (ASN), a leading submarine networks business, to the French State, represented by the Agence des participations de l'Etat. The transaction was completed on 31 December 2024. Nokia retains a 20% shareholding with board representation to ensure a smooth transition until targeted exit, at which point it is planned for the French State to acquire Nokia's remaining interest.
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.
Beginning with the second quarter 2024, Nokia has accounted for ASN as a discontinued operation.
ASN is a French and global submarine communication networks leader, uniquely positioned in turnkey systems. It grew significantly under Nokia's stewardship and is well positioned to continue benefiting from the growth of the large and attractive subsea cables market.
Recognizing 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, and has agreed to maintain investment in the ASN business and to support the further sustainable development of its vertically integrated technology offering.
About Nokia
At Nokia, we create technology that helps the world act together.
As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.
With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today - and work with us to create the digital services and applications of the future.
About ASN
ASN leads the industry in terms of transmission capacity and installed base with more than 750,000 km of optical submarine cable deployed worldwide, enough to circumnavigate the globe 19 times.
From traditional Telecom applications to Content & Over-The-Top service provider infrastructures as well as Energy applications, ASN provides all the elements of a global turnkey undersea transmission systems, tailored to the individual customer's needs.
An extensive service portfolio completes its comprehensive offering for the submarine business, including project management, installation and commissioning, along with marine and maintenance operations performed by ASN's fleet of cable ships.
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