Advertisement
YOU ARE HERE: LAT HomeCollections

TECHNOLOGY | TECH BRIEFS

Motorola Sales Net $1 Billion Plus

March 06, 2001|Reuters

Motorola Inc., the world's No. 2 mobile phone maker, said it has received more than $1 billion in cash from the sale of investments in five cellular operating companies. The company said that since Jan. 1 it had received payments for the sale of its investments in cellular operations in Brazil, Egypt, Israel, Jordan and Pakistan. In addition, Motorola has agreements to sell similar investments in Hong Kong and Mexico that could provide as much as $2 billion in cash or stock by the third quarter. The Schaumburg, Ill.-based wireless communications giant said it plans to sell its investments in other wireless operating companies. Shares of Motorola rose 4 cents to close at $16.75 on the New York Stock Exchange.

Advertisement
Los Angeles Times Articles
|
|
|