Sources in London’s financial district are muttering about Sierra Wireless considering merging with Telit, a move that would create a united company with revenues of over £1bn ($1.3bn). Such a move, should it transpire, could help the two better compete against rivals, and it might help Telit shrug off the affair of disgraced former CEO Oozi Cats. Reported by UK newspaper The Mail on Sunday, citing City (of London) sources, the rumors indicate that Sierra Wireless, a Canadian firm, would be buying Telit out of London’s AIM market. Since the Cats revelation, Telit has offloaded its automotive products to TUS, a Chinese firm, for £81m, but it also transpires that some of the largest shareholders in the firm are calling a…