Motorola completes split with NYSE listing

Motorola will today complete its separation as Motorola Mobility – the firm’s handset business - shares go public on the NYSE.
 
The business will list on-schedule using the ticker code MMI, as Motorola seeks to stem a flow of losses from its handset unit.
 
Motorola Mobility has an estimated market cap of around $9 billion (€6.7 billion).
 
Motorola Solutions, which will focus on devices such as public safety radios and handheld scanners, will use the code MSI.
 
Both entities have already begun public trading on a when-issued basis, which helps investors determine the opening price before official listing.
 
Motorola Mobility's when-issued price has grown 25% since the start of trading, WSJ.com reported, while Motorola Solutions shares have fallen by around 6.5%.
 
Shareholders including activist investor Carl Icahn have pressured Motorola to spin-off its loss making handset unit for several years.
 
Motorola Mobility CEO Sanjay Jha last month warned the handset company is likely to report a loss in its maiden quarter due to competitive pressures.
 
Meanwhile, the sale of the bulk of Motorola’s wireless infrastructure business to Nokia Siemens for $1.2 billion has been delayed by Chinese officials. The vendor hoped to conclude the deal before today’s split, but now expects clearance by end 1Q.

Suggested Articles

Wireless operators can provide 5G services with spectrum bands both above and below 6 GHz—but that doesn't mean that all countries will let them.

Here are the stories we’re tracking today.

The 5G Mobile Network Architecture research project will implement two 5G use cases in real-world test beds.