# Nokia sells submarine networks business ASN to French state
Published: 2024-06-27
Category: News
Category URL: https://tradingherald.com/category/news/
Meta Title: Nokia sells ASN business to French state for 350 million...
Meta Description: Nokia agrees to sell ASN to French state for 350 million euros but assures no impact on financial outlook. Divestiture expected to reduce sales by 1 billion ...
URL: https://tradingherald.com/nokia-sells-submarine-networks-business-asn-to-french-state/

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## Nokia sells submarine networks business ASN to French state

COPENHAGEN (Reuters) – Nokia on Thursday said it had agreed to sell its [submarine](https://tradingherald.com/australias-nuclear-submarine-plan-to-cost-up-to-245-billion-by-2055-defence-official/) networks business ASN to the French state for 350 million euros ($374 million), but that the deal would not impact its financial outlook.

[Nokia](https://tradingherald.com/nokia-signs-5g-patent-deal-with-chinas-vivo/) expected the divestiture to reduce sales in its Network Infrastructure [Business](https://tradingherald.com/black-business-recommendation-launch-doing-for-self-10000-interest-free-business-development-loan-opportunity-for-black-businesses/) 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)](https://tradingherald.com/italian-hearing-aid-maker-amplifon-expects-higher-2023-earnings/)

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


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