WSJ: Motorola mulling sale of its cable unit business
According to a report by the Wall Street Journal, Motorola Inc (NYSE: MOT) is exploring the sale of its business that makes set-top boxes and other equipment for cable and phone companies in a last ditch attempt to turnaround the company. The Journal has quoted people familiar with the matter as saying that the MOT has valued the business roughly at $4.5 billion. sale of its, , the latest chapter in the struggling tech giant's effort to turn itself around.
Wall Street Journal reported that possible buyers for Motorola’s cable unit business include private-equity firms and other communications-gear makers. JP Morgan Chase & Co and Goldman Sachs Group Inc are advising MOT on the possible sale, according to the Wall Street Journal.
MOT shares have declined by 2.38% to $8.64 since morning.
