Strategic importance
France buys back Nokia’s ASN submarine cable division
Practically all digital communication between continents takes place via submarine cables. France is now buying back a strategically important company in the industry.
France is buying back a majority stake in the submarine cable division Alcatel Submarine Networks (ASN) from the Finnish network supplier Nokia. The state will initially acquire 80 percent of the traditional French company with the option of a complete takeover, said Economics Minister Antoine Armand at the ASN headquarters in Calais.
The state’s majority stake should ensure the digital independence of France and its European partners and ensure the preservation of industrial know-how and jobs in France. Nokia took over the French-American competitor Alcatel-Lucent, among other things, with its submarine cable business in 2015.
Buyback is intended to protect sovereignty and vital interests
ASN has laid over 750,000 kilometers of submarine cables worldwide and has the largest international digital network operators as customers and, according to the Paris Ministry of Economy, is one of the world market leaders in its field. With the buyback, France is defending its national sovereignty and technological independence and protecting the nation’s vital interests. No information was given about the price of the buyback; the newspaper “Le Monde” spoke of an investment of 100 million euros.
The underground submarine cable infrastructure, which carries virtually all of the world’s Internet traffic, is strategically important and a potential target for sabotage. France is a neuralgic center of this global network.
dpa
Source: Stern
