Nokia looks to sell un­der­sea ca­ble unit

New Straits Times - - Business -

PARIS: Fin­land’s Nokia plans to sell its un­der­sea ca­ble unit, a busi­ness that un­der­pins the global In­ter­net, said union and French gov­ern­ment sources. The divi­sion, val­ued at about €800 mil­lion (RM3.8 bil­lion), 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 ac­qui­si­tion of French ri­val Al­ca­tel. The com­pany said, how­ever, there was no ur­gency for the deal as no po­ten­tial bid­der had yet been iden­ti­fied. Agen­cies

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