CommScope jumps after $2.1 bln deal to sell two business units

Vistance Networks

18/07/2024 14:24

** CommScope Holding  COMM.O  shares jump 58% to $2.70
premarket
    ** The communication infrastructure firm is selling its
outdoor wireless and antenna systems units to Amphenol Corp
 APH.N  for $2.1 bln in cash
    ** APH shares up 1.5% to $65.20 premarket
    ** Sale is expected to close in the first half of 2025 -
statement
    ** YTD, COMM is down 40%

 (Reporting by Yuvraj Malik)
 ((yuvraj.malik@thomsonreuters.com))