TE Connectivity May Sell Network Business

TE Connectivity, a Swiss electronics company, may be nearing a deal to sell its network equipment unit to CommScope, who helps companies design, build and manage wired and wireless networks. CommScope could pay about $3 million for the network equipment unit, according to The Wall Street Journal. The deal does not include the networking business’ subsea fiber optics operation, which is used by telecom and oil and gas customers, the Journal reported. The deal could be announced as early as this week, assuming everything goes as planned.