Moto to spin off semi unit
It is alleged...
Sources close to US news wires said today that a consortium of senior managers at Motorola is attempting a management buyout (MBO) of its semiconductor component division. The MBO is worth $1.6 billion and if the group finds enough capital, it will be a sea change for the US firm. But now the group of execs is competing against another company, the Texas Pacific Group, for a similar amount of cash. Motorola said several months ago it was considering "spinning off" its semiconductor division. Motorola has no comment to make on the matter. ®
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