UPDATE 1-LMS Capital buys majority stake in Updata UK

* Pays 6.2 mln stg in cash for 53.3 pct stake

* Says deal is in support of management buy-out

* Remaining shares to be held by management, other holders (Adds details)

July 13 (Reuters) - Investment firm LMS Capital Plc (LMS.L) said Monday it bought a 53.3 percent stake in broadband network services provider Updata Infrastructure UK Ltd for 6.2 million pounds ($10 million) in an all-cash deal in support of a management buy-out.

The remaining 46.7 percent stake in Updata UK will be owned by management and other existing shareholders, the company said.

Updata UK had a turnover of 10.9 million pounds and an operating profit of 1.6 million pounds for the year ended June 30, LMS Capital said in a statement.

Updata UK, which builds and manages broadband networks for public sector organisations in the UK, was previously 60 percent owned by Danish company Updata Europe A/S.

Shares of LMS Capital were trading flat at 44.25 pence at 1210 GMT on the London Stock Exchange. ($1=.6214 Pound) (Reporting by Kumar Alagappan in Bangalore; Editing by Maju Samuel)