(Reuters) – CommScope Holding 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 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 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.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Mohammed Safi Shamsi)
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