May 3, 2017 / 4:48 PM / 9 months ago

Nokia plans to sell its undersea cables division-sources

PARIS, May 3 (Reuters) - Finland’s Nokia seeks to sell its undersea cables unit, a business that underpins the global Internet and is used by France’s surveillance apparatus, two union sources and one French government source told Reuters.

The division, valued at 800 million euros, is one of the top suppliers of undersea cable networks in the world and was bought by the telecom equipment maker last year as part its 15.6 billion-euro ($17 billion) acquisition of French rival Alcatel.

The French government deemed the business strategic for the country at the time, as it guarantees high-speed Internet connections with oversea territories and African countries. It also plays a key role in cybersurveillance and national security. (Reporting by Gwenaelle Barzic and Mathieu Rosemain in Paris; Additional reporting by Jussi Rosendahl in Helsinki and Eric Auchard in Frankfurt; Editing by GV De Clercq)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below