Nokia sells submarine networks business ASN to French state
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A view shows Nokia headquarters in Espoo, Finland, October 19, 2023. JUSSI NUKARI/Lehtikuva/via REUTERS/ File Photo
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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