CommScope working on asset sales to pay down debt, Bloomberg says

CommScope is working with financial advisers to explore the sale of its Ruckus Wireless business as well as its access network solutions business and using the proceeds to pay down debt, Reshmi Basu and Liana Baker of Bloomberg report, citing people with knowledge of the matter. The businesses together could generate $4B, sources told Bloomberg. The company has over $9 billion in long-term debt, with around half of its obligations coming due in 2025 and 2026, Bloomberg adds. “Portfolio management is an ongoing process, and we have identified several opportunities to optimize our portfolio,” a representative for CommScope said in a statement, adding that the company has a plan to address its debt due in 2025. Shares of CommScope are up 4% to $3.22 in afternoon trading.