U.K. private-equity company 3i Group PLC (III.LN) as yet hasn't told Telecity Group PLC (TCY.LN) that it has any plans to sell its stake in the company, a spokesman for the latter told Dow Jones Newswires Monday.

"They've expressed no desire to sell off their stake - they're a big fan of the company - but of course it's their call," he said.

On Sunday, 3i said it was considering options to reduce its debt, including selling stakes in various companies.

The comments come after the Sunday Times reported that 3i wants to raise cash to pay part of its GBP2 billion debt.

3i's key holdings are its 22.6% stake in data storage company Telecity and a 10% stake in oil company Venture Production (VPC.PM). At current prices, these stakes are worth GBP76 million and GBP87 million, respectively.

Earlier Monday, Telecity reported a steep rise in full-year sales and earnings, boosted by growing data storage and Internet bandwidth demand.

At 0950 GMT, Telecity shares were up 4.12% at 177 pence, outperforming a 2.25% drop in the FTSE 250.

Company Web site: www.telecity.com

-By Erica Herrero-Martinez, Dow Jones Newswires; +44 (0)20 7842 9353; erica.herrero-martinez@dowjones.com

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