Separation of Motorola delayed

By Lisa Kerner

Charlotte, N.C., Oct. 30 - Motorola, Inc.'s plan to create two independent, publicly traded companies in a tax-free distribution to its shareholders is being pushed back.

"While our strategic intent to separate the company remains intact, we are no longer targeting the third quarter of 2009, primarily due to the macro-economic environment, stresses in the financial markets and the changes underway in [the] mobile devices [segment]," Sanjay Jha, Motorola co-chief executive officer and CEO of the mobile devices segment, said in a news release.

Motorola, a Schaumburg, Ill.-based communications company, announced in January 2008 that it would separate its mobile devices and broadband & mobility solutions businesses. The separation process began in March 2008, it was previously reported.

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