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France buys majority stake in Alcatel Submarine Networks from Nokia for $375m

This transaction is expected to reduce the net sales of Nokia's Network Infrastructure by approximately €1 billion but will increase its operating profit margin by 100 –150 basis points.

By João Marques Lima

Founder and Editor, The Tech Capital

4 Mins

July 07, 2024 | 10:41 PM BST

France buys majority stake in Alcatel Submarine Networks from Nokia for $375m

Pekka Lundmark, President and CEO of Nokia

The Tech Capital

Nokia said it will sell its submarine networks business Alcatel Submarine Networks (ASN) to the French State for an enterprise value of €350 million (US$375 million).

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João Marques Lima

Founder and Editor, The Tech Capital

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