Filtronic's sale of wireless unit completed

Filtronic plc today announced the completion of the sale of the filter-based transmit receive module and power amplifier businesses of its Wireless Infrastructure division to Powerwave Technologies Inc. The Powerwave stock, which Filtronic has received as part of the consideration for the disposal of the Wireless Infrastructure business, will be registered and freely transferable following completion of the necessary regulatory filings with the SEC. It is expected that these will be completed within the next 5 days. “Overall, following the disposal of the wireless infrastructure business, the scale of the group's activities will be substantially reduced. This will result in operating losses pending the development and reshaping of the group," said company chairman John Poulter.