QTUM - Nokia Streamlines Network Business: Sells Submarine Networks Business ASN To French State | Benzinga
Nokia Oyj (NYSE:NOK) shares are trading higher after the company agreed to sell Alcatel Submarine Networks (ASN) to the French State, represented by the Agence des participations de l’Etat (APE) for an enterprise value of EUR350 million.
Post deal, Nokia will keep a 20% stake and board representation to ensure a smooth transition, with the French State set to acquire the remaining interest later. From the second quarter onward, Nokia will classify ASN as discontinued.
The sale is anticipated to be finalized by late 2024 or early 2025, pending formal consultation with ASN’s French ...