Wednesday, August 17, 2022

Nokia still reviewing options for undersea cables unit: CEO


HELSINKI: Nokia is still reviewing its options for its undersea cables unit, a business that underpins the global Internet, chief executive Rajeev Suri said on Thursday.

Reuters reported in May that Nokia was planning to sell the ASN division, which is one of the top suppliers of undersea cable networks in the world and is valued at 800 million euros ($944 million).

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“We are still in the middle of our strategic review which we have set for ASN, so there’s no update,” Suri told a conference call.

Some analysts had expected a decision on the unit alongside the release of Nokia’s interim report released on Thursday.

The unit was bought by Nokia last year as part of its 15.6 billion-euro ($17 billion) acquisition of Franco-American rival Alcatel-Lucent.

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($1 = 0.8471 euros)


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