MTI sells Russian operation to local manager
MTI Wireless Edge Ltd.
45.00p
16:55 07/11/24
0.00%
0.00p
Radio frequency technology company MTI Wireless Edge announced the disposal of its Russian operations on Tuesday.
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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.