Nokia enters into an agreement with the French State regarding the sale of leading submarine networks business ASN [Yahoo! Finance]
BNP PARIBAS SPONS ADR (BNPQY)
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Source: Yahoo! Finance
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. This proposal: Demonstrates Nokia's commitment to active portfolio management and focus on key strategic assets. Focuses the portfolio and improves profitability of the Network Infrastructure business group. Ensures continued development of a strategic, market-leading French and European business. ASN is well-positioned to build on the transformation achieved under Nokia. Nokia will retain a 20% shareholding and board representation until targeted exit to ensure a smooth transition. 27 June 2024 Espoo, 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 cons
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