SSE says no decision to break up group, backs low-carbon strategy

© Reuters. FILE PHOTO: An SSE company logo is seen on signage outside the Pitlochry Dam hydro electric power station in Pitlochry, Scotland, Britain, November 8, 2017. REUTERS/Russell Cheyne/File Photo

(Reuters) – Britain’s SSE (LON:) Plc has not taken any decision to break up the group, the power producer said on Monday, in response to a report that it was close to a split following pressure from activist investor Elliot.

“The Board remains fully focused on strategic choices which will drive shareholder value from the wealth of net zero opportunities the company is creating,” the company said.

The Telegraph reported on Friday that Britain’s second-biggest energy provider is close to being split into two separate blue-chip companies. (https://

The U.S. investor has been in talks with SSE’s board to split the company’s legacy wholesale networks business from its growth renewables operations for more than a year, the paper reported, citing sources.

Elliot was not immediately available for comment outside regular U.S. business hours.

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