December 21, 2018 / 11:41 AM / 8 months ago

SSE to sell stake in telecoms business for 380 mln pounds

Dec 21 (Reuters) - SSE Plc said on Friday it plans to sell a 50 percent stake in its enterprise telecoms business to Infracapital for about 380 million pounds ($481.27 million), after abandoning plans to merge its British energy retail operations with a unit of Innogy SE.

SSE will sell the telecoms business stake to the infrastructure equity investment arm of M&G Prudential and use the cash to cut down debt. ($1 = 0.7896 pounds) (Reporting by Sangameswaran S in Bengaluru; Editing by Shounak Dasgupta)

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