Italy’s Prysmian sells part of stake in YOFC to help fund acquisition of US group Channell

Italy’s Prysmian sold a 3.7% stake in Hong Kong-listed Yangtze Optical Fibre and Cable (YOFC) for around HK$350.2 million ($45.16 million) to support its $1.15 billion acquisition of U.S. group Channell, the cable maker said on Monday.