COPENHAGEN (Reuters) – Nokia (HE:) 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)