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Sage Group considering selling payments unit

British technology firm Sage Group PLC confirmed that it is weighing potential strategic options for payment processing unit Sage Pay, including a sale, following media speculation about a possible disposal.

The statement comes after Sky News reported that the group was in discussions to sell Sage Pay and has hired investment bank Rothschild to search for a buyer, citing a source close to the company.

An auction of the unit was said to have begun several weeks ago and could attract interest from buyout firms and other payments companies, the news agency noted.