April 27, 2019 / 1:51 PM / 4 months ago

Britain's SSE approaches firms over deal to shed retail arm: Sky News

(Reuters) - British energy company SSE Plc has approached companies including broadband provider TalkTalk Telecom Group about a deal to sell its household supply unit, Sky News reported bit.ly/2Lm9c2T on Saturday.

SSE will update investors on May 22 about the future of the retail arm, which Chief Executive Alistair Phillips-Davies has valued at 1 billion pounds ($1.29 billion), the report said.

The company is aiming to find a buyer or a merger partner, but despite recent discussions a tie-up with TalkTalk is unlikely, Sky News said, citing a source.

In December, SSE and energy group Innogy SE scrapped plans to merge their British retail operations after the industry regulator proposed a cap on consumer bills, leaving them looking for other consolidation options.

SSE and TalkTalk said they had no comment on the Sky News report.

Reporting by Kanishka Singh in Bengaluru; Editing by Clelia Oziel

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below