Sept 16 (Reuters) - Italy's Prysmian has

completed its divestment from Hong Kong-listed Yangtze Optical

Fibre and Cable with the sale of its remaining 5%

stake, the group said in a statement on Tuesday.

The cable maker began divesting what had been a 23.7% stake

in YOFC in April.

It is using the proceeds to help support its $1.15 billion

acquisition of U.S. connectivity device manufacturer Channell

Commercial Corp.

In its latest placement, the cable maker, through its

subsidiary Draka Comteq, sold around 37.6 million H shares of

YOFC for HK$47.10 ($6.05) each, for a gross consideration of

HK$1.8 billion.

H shares refer to stock in mainland China's companies listed

on the Hong Kong Stock Exchange.

Prysmian has raised a total of around 550 million euros

($650 million) through the YOFC share disposal, which it

completed in five tranches, according to a Reuters calculation.

The firm continues to operate in China through its local

entity.

($1 = 7.7819 Hong Kong dollars)

($1 = 0.8466 euros)