# Nokia sells submarine networks business ASN to French state
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2024-06-27
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Nokia sells ASN submarine networks business to French state
Meta Description: Nokia sells ASN to French state for €350 million but assures no financial impact on outlook. Sale to close by 2024/2025.
URL: https://financedigest.com/nokia-sells-submarine-networks-business-asn-to-french-statehtml

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COPENHAGEN (Reuters) – Nokia on Thursday said it had agreed to sell its submarine networks business ASN to the French state for 350 million euros ($374 million), but that the deal would not impact its financial outlook.

Nokia expected the divestiture to reduce sales in its Network Infrastructure Business Group by 1 billion euros, it said.

The sale is expected to close at the end of 2024 or beginning of 2025, Nokia added.

($1 = 0.9352 euros)

(Reporting by Louise Breusch Rasmussen; editing by Jason Neely)


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