MTI sells Russian operation to local manager

Radio frequency technology company MTI Wireless Edge announced the disposal of its Russian operations on Tuesday.

The AIM-traded firm said, following the board's decision to exit its business unit in Russia, it had sold its holding in the operation for a “de minimis” amount.

It said the purchaser is the general manager of the Russian operations.

“The MTI board does not expect this sale to have any significant profit [or] loss impact on MTI,” the company said in its short announcement.

At 1358 GMT, shares in MTI Wireless Edge were down 3.28% at 66.25p.