PRESS: Sistema seeks to sell defense subsidiary RTI – sources

MOSCOW, Sep 3 (PRIME) -- Russian multi-industry holding Sistema is ready to sell part of its shares in defense company RTI, producer of long-horizon radars, Izvestia daily reported on Tuesday citing industry sources.

Sistema created RTI Systems in 2000 and owns it through subsidiary RTI, which holds 97% in the company.

Sources said Sistema decided to sell the company due to the Defense Ministry’s claims to the company regarding the fulfillment of state order.

The main bidder for RTI is defense system producer Almaz-Antey, sources said.

RTI Systems, Sistema, and Almaz-Antey declined to comment.

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