Is it true that Glaxo is planning to sell out of its stake in Hindustan Unilever?

GlaxoSmithKline Plc plans to sell its $3.7 billion stake in Unilever’s listed India unit. However, it is not clear whether the sale will be a block sale or sold in phases. Glaxo currently holds 5.7% in Hindustan Unilever as consideration for the sale of the Glaxo Consumer business to Unilever worldwide. The deal is expected to happen in the coming week. Glaxo received the stake worth $3.7 billion this week, as part of the payment for the sale of a portfolio of assets. No final decision has been taken on the timing of the proposed trades and Glaxo is expected to take a final view on the sale based on market conditions and the advice of the investment bankers.