CommScope (COMM) is exploring a sale of its broadband connectivity and cable arm as it seeks to repay debt, David Carnevali, Ryan Gould and Reshmi Basu of Bloomberg report, citing people with knowledge of the matter. The company is working with an adviser to gauge buyer interest in the business, known as CCS, sources told Bloomberg. CommScope is looking to fetch as much as $10B for CCS and has reached out to private equity firms and industry players, the people added. CommScope is also evaluating alternatives including a potential sale of the whole company, some of the people said. The deliberations are in the early stages and there’s no guarantee they’ll result in a transaction, the sources added. Shares of CommScope are up 7% to $5.85 following the report.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on COMM:
- CommScope’s vCCAP Evo solution selected for Belgium’s broadband network
- CommScope, Emtelle enter collaboration to manufacture hardened connectivity
- CommScope put volume heavy and directionally bearish
- CommScope Appoints Krista R. Bowen as Chief Legal Officer
- CommScope Holding Approves Proposals at Annual Meeting