1/18/2010 10:36:00 AM
Motorola suspends sale of home and networks division
Motorola has suspended the sale of its home and networks mobility division, according to reports.
The move follows low valuations on offer, according to The Wall Street Journal. The company had hoped to make $4bbn to $5bn, but offers have fallen in the range of $3bn to $4bn, the paper said.
The manufacturer is understood to be reviewing the future of the division after a rise in handset sales. It is considering whether the handset and networking businesses should stay under a single parent.
The next round of bids was expected to be due in February. However, the schedule has been thrown into limbo, and Motorola's board and management are set to meet to discuss the future of all its business lines, and to be updated on the auction.