Motorola Stalls Company Split Due to Low Bids
Since the adoption of Android by Motorola things have seemed to be on the up, as not too long ago Motorola were struggling in the mobile phone arena. Due to those struggling times Motorola decided to auction off its biggest business unit, but now according to the WSJ, Motorola has put that auction on hold.
One could presume that the changed of mind on the auction of Motorola’s home and networks mobility division was due to the success of the Motorola Droid and Motorola Milestone, but it’s not that simple.
The reason for placing a hold of said auction is due to Motorola receiving ‘lower-than-expected’ bids for the division. Motorola are looking for bits of around $4 to $5 billion; however, apparently the bids have only hit between $3 and $4 billion.
Apparently the next round of bidding is scheduled for the middle of February, but that is now on pause while Motorola board management meet in the coming days to bash out the future of the business and get an update on the auction.