SSE Plc said that no decision has been made to split the company after speculation that activist investor Elliott Investment Management is pushing to break up the utility.
“There has been no decision to break up the SSE Group,” the company said in a statement. “SSE’s strategic focus is on renewables and regulated electricity networks.”
Elliott has been building a position in SSE and is said to be putting pressure on SSE management to split its renewables and networks businesses to create two separate companies that would get a higher value.
The next update will be at the company’s half year results in November, SSE said.
©2021 Bloomberg L.P.