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Nera Tel shares up on sale of payments solutions business

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Nera Tel shares up on sale of payments solutions business

PC Lee Published on Fri, May 20, 2016 / 10:55 AM GMT+8

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SINGAPORE (May 20): Nera Telecommunications is up 2.2% to 71 cents on news that it has agreed to sell its payments solutions business for $88 million.

The acquisition will give Nera a net gain of $71.5 million from the divestment, which will be partly paid out to shareholders, the company said.

The deal will be put to the vote by shareholder in the third quarter.

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