French State, represented by the Agence des participations de l'Etat, agreed to acquire Alcatel Submarine Networks from Nokia, a multinational telecommunications, information technology, and consumer electronics corporation, for €350m. “This is a good step forward in our strategy of actively managing our portfolio. ASN has been a standalone part of our Network Infrastructure business and through the divestment, Network Infrastructure will benefit from a streamlined portfolio with a focus on growth and strengthening its technology leadership. ASN has gone through a significant transformation in recent years and has a strong market position. I am pleased we have found a natural owner for the business. The French State will ensure continued investment in ASN and protection of critical industry know-how,” Pekka Lundmark, Nokia President and CEO.