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Broadcom looking to sell a wireless chip unit: WSJ

Published 2019-12-18, 02:00 p/m
Broadcom looking to sell a wireless chip unit: WSJ
CSGN
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AVGO
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(Reuters) - Broadcom Inc (O:AVGO) is looking to sell one of its wireless chip units, marking a move away from its forte as a chipmaker, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

The company is working with Credit Suisse (SIX:CSGN) to sell its radio frequency segment in a process that is at an early stage, the Journal reported https://on.wsj.com/2Z0bOq0.

The segment could be worth $10 billion, some of the people told the WSJ.

Broadcom did not immediately reply to a Reuters request for comment.

The chipmaker gave a lukewarm forecast for 2020 amid slowing growth in the semiconductor business in its last reported quarter.

Shares of the company were up 1.4% in afternoon trading.

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