Nokia Inks Deal With The French State Regarding The Sale Of Submarine Networks Business ASN For An Enterprise Value Of €350M
Portfolio Pulse from Benzinga Newsdesk
Nokia has signed a deal with the French State to sell its Submarine Networks Business (ASN) for €350M. Nokia will retain a 20% shareholding with board representation until a targeted exit, expected at the end of 2024 or beginning of 2025, pending regulatory approvals.
June 27, 2024 | 9:56 am
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Nokia has agreed to sell its Submarine Networks Business (ASN) to the French State for €350M, retaining a 20% shareholding until a targeted exit by end of 2024 or early 2025, pending regulatory approvals.
The sale of ASN for €350M is a significant move for Nokia, potentially improving its financial position. Retaining a 20% shareholding ensures a smooth transition and continued influence until the final exit. The deal is subject to regulatory approvals, which adds some uncertainty.
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