Oct 23 (Reuters) - Alphabet's Google has

agreed to invest in an instrument that could convert into an

equity stake in THG Ingenuity, the demerged arm of British

e-commerce firm THG, at a valuation of 750 million

pounds ($1.01 billion) or more, Sky News reported on Thursday

citing sources.

Reuters could not immediately verify the report.

($1 = 0.7451 pounds)