LONDON (Alliance News) - Gas and electricity supplier SSE PLC has held talks with several utility companies including TalkTalk Telecom Group PLC to sell its retail division after abandoning the proposed merger of the division with rival Npower, Sky News reported Saturday.
Sources told Sky that SSE has stepped up efforts to find a buyer for the retail division, which supplies energy to around to six million households across the UK.
SSE Chief Executive Alistair Phillips-Davies is seeking about GBP1 billion for the retail unit, Sky said, higher than what many in the market think the business is worth.
Shares in SSE were trading 0.4% lower at 1,148.00 pence each on Monday morning. TalkTalk shares were up 0.5% at 124.70p each.