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Vodafone to sell 49% stake in 1 bln stg IoT unit

Vodafone Group is looking to sell a stake of up to 49% in its Internet of Things arm at a valuation of about 1 billion pounds ($1.26 billion) for the unit, Sky News reported on Monday, citing people familiar with the matter.

The telecoms giant has hired independent advisory firm Akira Partners to field offers for the stake sale, which is likely to draw interest from private equity firms, the report added.

Akira Partners did not immediately respond to a Reuters request for comment, while Vodafone did not respond outside of business hours in London.

Meanwhile, CK Hutchison and Vodafone are close to agreeing to a 15 billion pound merger of their UK telecoms businesses, in a deal that would create the country’s biggest mobile operator. Nasdaq

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