SCHAUMBURG, Ill. (
( MOT) reportedly has put the auction of its home and networks mobility division on hold as bids have come in lower than expected.
Motorola had hoped to sell the division, the company's biggest with 2008 sales of more than $10 billion, for $4 billion to $5 billion. But bids so far have come in between $3 billion to $4 billion, the
Wall Street Journal
reports, citing people briefed on the auction.
Motorola also took into account sales trends for its decision to put the auction on hold, the
says. The unit makes set-top boxes for cable TV and mobile-phone networking equipment. But an increase in handset sales has Motorola examining whether its handset and networking businesses should stay under a single parent.
The next round of bids was expected next month, but that has changed as Motorola is expected to meet in coming days to discuss the future of its business lines and to provide updates on the auction, the people said, the
Motorola could, of course, still proceed with its plan to sell the business in coming months, the
Two companies that have mad first-round bids include Chinese telecommunications company
. Because of its market capitalization of about $1.4 billion, Arris likely would have to team with a private-equity firm to win the auction, the
-- Written by Joseph Woelfel in New York.
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