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(Reuters) – The British energy group SSE Plc has contacted companies such as the TalkTalk Telecom Group broadband provider about an agreement to sell its domestic supply unit, Sky News reported on Saturday: //bit.ly/2Lm9c2T.
On May 22, SSE will inform investors of the future of the distribution arm, which chief executive Alistair Phillips-Davies has estimated at 1 billion pounds ($ 1.29 billion), the report said.
The company is looking to find a buyer or a merger partner, but despite recent discussions, a rapprochement with TalkTalk is unlikely, Sky News said, citing a source.
In December, SSE and the Innogy SE energy group canceled plans to merge their UK retail business after the industry regulator proposed a cap on consumer bills, leaving them looking for more consolidation options.
SSE and TalkTalk indicated that they had no comments to make on the Sky News report.
(Report of Kanishka Singh in Bengaluru, edited by Clelia Oziel)
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