Nokia has announced the completion of the sale of Alcatel Submarine Networks (ASN), a leader in submarine communication networks, to the French State, represented by the Agence des participations de l’Etat. The transaction, which was completed on December 31, 2024, will allow Nokia to focus on its Network Infrastructure portfolio while ensuring the continued development of ASN as a strategic player in the French and European markets.
Nokia’s Strategic Reorganization
The decision to sell ASN, initially announced on June 27, 2024, is part of Nokia’s strategy to concentrate its business on key growth areas. The company will retain a 20% stake in ASN and representation on its board of directors during the transition period, until the French State acquires the remaining interest.
This transaction, along with the announced acquisition of Infinera, reflects Nokia’s active portfolio management aligned with its strategic pillars. Since the second quarter of 2024, ASN has been accounted for as a discontinued operation in Nokia’s financial statements.
The Future of ASN Under French Control
ASN, a global leader in submarine communication networks, has experienced significant growth during its time as part of Nokia. The company has deployed over 750,000 kilometers of submarine optical cables, enough to circle the globe 19 times, establishing itself as a benchmark in the submarine cable market.
The French State is committed to maintaining investment in ASN, supporting its sustainable development, and ensuring the continuity of its operations. This backing aims to strengthen its integrated technology offering and secure its competitive position in telecommunications, content providers, and energy applications.
About Nokia
Nokia is a leading technology innovation company for mobile, fixed, and cloud networks. Recognized for its cutting-edge research through Nokia Bell Labs, the company drives secure, reliable, and sustainable networks that open up opportunities for monetization and scalability in a global ecosystem.
Impact of the Transaction
The sale of ASN to the French State ensures that this strategic asset remains under European control, aiming to strengthen its position in the growing submarine cable market, which is critical for global telecommunications and critical infrastructure.
This move represents a significant step in Nokia’s restructuring and consolidates its focus on markets with greater expansion opportunities while ensuring that ASN continues to be a reference in the submarine network industry.