Nokia completed the sale of its submarine cable business, Alcatel Submarine Networks (ASN), to the French government, concluding a process initially announced in June.
The deal, finalised on 31 December 2024 and announced today (3 January), grants Agence des participations de l’Etat, a representative arm of the French state, majority ownership of ASN. In a statement, Nokia reiterated its initial plans to retain a 20 percent stake along with board representation during the transition before exiting the business entirely.
The company classified ASN as a discontinued operation starting from Q2 2024.
Nokia stated it considered ASN a “non-core, standalone business,” with the divestment enabling the company to sharpen its focus on expanding its network infrastructure portfolio in key growth markets.
Notably, Nokia acquired optical networks company Infinera for $2.3 billion in mid-2024. In tandem with the ASN sale, the company said the moves underscore a wider strategic restructuring of the company’s Network Infrastructure business.
In the announcement, Nokia emphasised the French government’s support of ASN’s management and strategy, intention to sustain investment, and commitment to developing its vertical technology offerings.
