20th Feb 2019 15:48
LONDON (Alliance News) - Telit Communications PLC on Wednesday said final talks are ongoing for the sale of its automotive division to TUS International Ltd.
Telit, which makes machine modules, agreed to sell its automotive division for USD105 million in July 2018. The deadline for the sale was extended at the start of February after issues with the debt arrangements supporting the deal.
The extended deadline has now passed and Telit said another announcement will be made on Thursday this week.
Shares in Telit were down 3.2% at 124.50 pence on Wednesday.
Related Shares:
TCM.L