ReutersOct 26, 2017 21:37:13 IST
Nokia is still reviewing its options for its undersea cables unit, a business that underpins the global Internet, chief executive Rajeev Suri said on 26 October.
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).
“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 26 October.
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.
Welcome to Tech2 Innovate, India’s most definitive youth festival celebrating innovation is being held at GMR Grounds, Aerocity Phase 2, on 14th and 15th February 2020. Come and experience an amalgamation of tech, gadgets, automobiles, music, technology, and pop culture along with the who’s who of the online world. Book your tickets now.