The Finnish company retains a 20% shareholding and board representation during the transition, with plans for the French State to acquire the remaining interest.
The sale aligns with Nokia’s strategic focus on its core markets. “This divestment demonstrates our active management of our business portfolio, one of Nokia’s six strategic pillars,” the company said in a statement.
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Alongside its planned acquisition of Infinera, announced in June 2024, Nokia is concentrating on growth opportunities in its Network Infrastructure portfolio.
ASN, a global leader in submarine communication networks, flourished under Nokia’s ownership and says it is well-positioned to capitalise on the expanding subsea cables market.
The French State has committed to supporting ASN’s management, maintaining investments, and fostering the sustainable development of its vertically integrated technology offerings.
“Nokia’s stewardship has allowed ASN to thrive, and its transition to the French State ensures a secure future for this vital business,” Nokia said. Since Q2 2024, Nokia has treated ASN as a discontinued operation, the company added.
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