(Bloomberg) -- British billionaire brothers David and Simon Reuben sold a 49 percent stake in data center operator Global Switch Holdings Ltd to Chinese investors, despite security concerns surrounding the deal.

A consortium of private sector Chinese investors assembled by Daily-Tech founder Li Qiang and led by Jiangsu Sha Steel Group, will pay a cash consideration of 2.4 billion pounds ($2.96 billion), Global Switch said in a statement.

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