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Nokia enters into an agreement with the French State regarding the sale of leading submarine networks business ASN

GlobeNewswire LogoGlobeNewswire3d ago

Nokia enters into an agreement with the French State regarding the sale of leading submarine networks business ASN - GlobeNewswire

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Nokia will retain a 20% shareholding and board representation until targeted exit to ensure a smooth transition.27 June 2024Espoo, Finland – Nokia today announces it has entered into a put option to sell Alcatel Submarine Networks (ASN), a leading submarine networks business, to the French State, represented by the Agence des participations de l'Etat (APE), subject to informing and consulting with the relevant employee representatives at ASN and Nokia.

Press ReleaseNokia enters into an agreement with the French State regarding the sale of leading submarine networks business ASN Nokia has signed a put option agreement with the French State contemplating the sale of ASN for an Enterprise Value of EUR 350 million, subject to informing and consulting with relevant employee representative bodies.

Recognizing the importance of ASN’s heritage, operations and relationships with its key stakeholders, the French State has made clear its full support for ASN’s management and strategy, and has agreed to maintain investment in the ASN business and to support the further sustainable development of its vertically integrated technology offering.

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Article Details

Author / Journalist: Nokia Oyj

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-27 @ 06:00:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Article Length: 916 words

Reading Time: 6 minutes read

Sentences: 35 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © GlobeNewswire

News ID: 21399186

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Main Topics: Technology

Official Website: globenewswire.com

Update Frequency: 1 posts per day

Year Established: 1998

Headquarters: China

News Last Updated: 14 hours ago

Coverage Areas: China

Ownership: Independent Company

Publication Timezone: GMT +8:00

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Publisher ID: #116

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