Pirelli has come to the conclusion that it would be better off not selling broadband access products. This has driven the Italian company to shop its broadband division to potential buyers.
The move by Europe's third-largest tire maker to sell its broadband unit--which sells STBs and home/business network gateways--is part of a broader company reorganization effort to make tires its main focus.
Although Pirelli's Chairman Tronchetti Provera would not reveal any potential buyers of the unit, he did say that the company has received five offers thus far. According to Pirelli's annual report, Pirelli Broadband Solutions had $166 million in sales. Last year, Pirelli sold its remaining shares in Telecom Italia SpA.
For more:
- Bloomberg has this article
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