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July 13 (Reuters) - Investment firm LMS Capital Plc said Monday it bought a 53.3 percent stake in broadband network services provider Updata Infrastructure UK Ltd for 6.2 million pounds ($10 million) in an all-cash deal in support of a management buy-out.
The remaining 46.7 percent stake in Updata UK will be owned by management and other existing shareholders, the company said.
Updata UK had a turnover of 10.9 million pounds and an operating profit of 1.6 million pounds for the year ended June 30, LMS Capital said in a statement.
Updata UK, which builds and manages broadband networks for public sector organisations in the UK, was previously 60 percent owned by Danish company Updata Europe A/S.
Shares of LMS Capital were trading flat at 44.25 pence at 1210 GMT on the London Stock Exchange.

($1=.6214 Pound)

(Reporting by Kumar Alagappan in Bangalore; Editing by Maju Samuel) Keywords: LMSCAPITAL/ (kumar.alagappan@thomsonreuters.com; +44 20 75427717; Reuters Messaging: kumar.alagappan@thomsonreuters.com)

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