Intel puts modem business up for sale, held talks with Apple – Report

Apple had held talks with Intel around last summer and continued to do so for months until halting recently around the time of its settlement with Qualcomm, the WSJ report said.

Intel has already received expressions of interest from a number of parties and has hired Goldman Sachs Group Inc to manage the process, which was in an early stage, the report said.

Apple, Intel and Goldman Sachs declined to a request from Reuters for comment.

Shares of Apple closed at $204.3, down 0.53 percent.

Also read: Intel 9th Gen Core H-series processors announced, targeted towards gamers and creators

Shares of Intel which were down as much as 11 percent on Friday afternoon after it cut its full-year revenue outlook yesterday, pared losses to close at $52.43, down about 9 percent.