RARE ALERT: Telit Communications said to ... - Part 9

Telit Communications, the London-listed internet of things provider, has promoted a senior executive to head a new automotive business unit, signalling the company is close to selling the division to a potential buyer for between £100 million and £150 million.

Dirk Reimer, previously a vice president, has just been made managing director of Telit's new integrated automotive division, said sources claiming to be familiar with the matter...