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Broadcom looking to sell a wireless chip unit - WSJ

Reuters
FILE PHOTO: A sign to the campus offices of chip maker Broadcom Ltd, who announced on Monday an unsolicited bid to buy peer Qualcomm Inc for $103 billion, is shown in Irvine, California

(Reuters) - Broadcom Inc <AVGO.O> is looking to sell one of its wireless chip units, marking a move away from its forte as a chipmaker, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

The company is working with Credit Suisse to sell its radio frequency segment in a process that is at an early stage, the Journal reported https://on.wsj.com/2Z0bOq0.

The segment could be worth $10 billion, some of the people told the WSJ.

Broadcom did not immediately reply to a Reuters request for comment.

The chipmaker gave a lukewarm forecast for 2020 amid slowing growth in the semiconductor business in its last reported quarter.

Shares of the company were up 1.4% in afternoon trading.

(Reporting by Neha Malara in Bengaluru; Editing by Maju Samuel)