Nokia mulling sale of undersea cables unit - report

Thursday 4 May 2017 | 09:56 CET | News

Nokia is mulling the disposal of its undersea cables unit, which it does not see as a core business, Reuters reported, citing two union sources and another in the French government.

The division, valued at about EUR 800 million, is one of the top suppliers of undersea cable networks in the world and was bought last year as part of Nokia’s EUR 15.6 billion acquisition of Alcatel. At the time, the French government had said the unit was strategic, as it guarantees high-speed internet connections with overseas territories and African countries. It also plays a key role in cyber-surveillance and national security.

The unit is still known as Alcatel Submarine Networks (ASN), and employs about 1,000 people, mainly in France and the UK. It is managed as a separate business. Nokia declined to comment on the report.

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