May 23 (Reuters) - CommScope Holding ( COMM ) is
exploring the sale of its broadband connectivity and cable
solutions (CCS) division, Bloomberg News reported on Friday.
The U.S.-based network infrastructure provider has spent
years working to lower its debt in the wake of sizable
acquisitions and economic challenges during the pandemic that
stunted its growth.
The company is aiming to secure as much as $10 billion for
its CCS division and has reached out to private equity firms and
industry players, the report said, citing people with knowledge
of the matter.
CommScope ( COMM ) did not immediately respond to a Reuters request
for comment.
It is also working with an adviser to gauge buyer interest
in the business, the report added.
Last year, the company sold its outdoor wireless network and
distributed antenna systems businesses to Amphenol ( APH ) for
$2.1 billion to partially alleviate its debt load.
The company is also evaluating other alternatives, including
a potential sale of the whole company, with the CCS division
being its largest by sales and operating income, according to
the Bloomberg report.
The discussions are in the early stages, and there is no
guarantee that they will result in a transaction, the report
said.