Motorola Moves Up On Sell-Off Talk

Motorola shares rose on Wednesday following a news report that the company is in talks to sell its telco equipment division.
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SCHAUMBURG, Ill. (

TheStreet

) --

Motorola's

(MOT)

shares rose on Wednesday following a news report

that the company is in talks

to sell its telecom equipment division to

Nokia Siemens Networks.

The phone maker's stock climbed 23 cents, or 3.19%, to $7.44, reversing the dip in tech stocks that saw the Nasdaq fall 0.15%.

Motorola's stock had already been creeping up in anticipation of

Verizon's

(VZ) - Get Report

Droid X

launch on Thursday, which is expected to intensify competition in the booming smartphone market.

Attention, however, is also focused on the company's long-term strategy.

The Wall Street Journal

reports that the Motorola unit up for sale makes older-generation equipment for telecommunications networks. Citing a person familiar with the matter, the

Journal

adds that a deal could be worth $1.1 billion to $1.3 billion.

Motorola, which competes with

Apple

(AAPL) - Get Report

and

HTC

, is in the process of splitting into two companies -- one for networking equipment, the other for mobile phones and TV set-top boxes.

Both Motorola and Nokia Siemens Networks declined to provide comment on the M&A rumor when contacted by

TheStreet

on Wednesday.

-- Reported by James Rogers in New York

Follow James Rogers on

Twitter

.