SSE denies break-up talk

SCOTTISH energy giant SSE has rejected claims it is preparing for a break-up.

Wall Street activist Elliott Management has been building a stake in the Perth firm and wants it to separate its renewable and network businesses, at a time when the UK energy industry is in crisis, with five small suppliers recently going under.

Yesterday SSE said: ‘There has been no decision to break up the SSE Group.’

John Musk, analyst at RBC Europe, said the statement would ‘do little to prevent Elliott from campaigning’.

Shares in SSE rose 0.4pc, or 7p, to 1641.5p.