CommScope Holding (NASDAQ:COMM) rose 8.4% amid a report it's evaluating divesting its Ruckus Wireless and its access network solutions businesses as it looks to cut its debt load.
The businesses combined could generate $4 billion, according to traders, who cited a Bloomberg report on Friday, which cited people familiar with the matter.
Fiber optic cable company CommScope has over $9 billion in long-term debt, with almost half due in 2025 and 2026, according to the report.
“Portfolio management is an ongoing process, and we have identified several opportunities to optimize our portfolio,” a representative for CommScope (COMM) said in a statement to Bloomberg.