Nokia to sell Alcatel Submarine Networks to French state for $374 mn

NEW DELHI: Finnish telecom gear maker Nokia has agreed to sell Alcatel Submarine Networks (ASN) to the French state for 350 million euros ($374 million), but said on Thursday the deal would not impact its financial outlook.

This is expected to reduce the net sales of Nokia’s Network Infrastructure business group by 1 billion euros, but increase operating profit margin by 100-150 basis points, as per the vendor. Going forward, the business group will comprise three units – fixed networks, IP networks and optical networks.