Innogy to restructure npower after failed deal with SSE: COO

Industry:    2019-02-06

German energy group (IGY.DE) will restructure its British retail unit npower, already subject to a fresh round of job cuts, after a planned joint venture deal with peer SSE (SSE.L) fell apart, a board member said.

“Overall, the British retail business is not a cause for joy. Market conditions have constantly worsened,” Martin Herrmann, chief operating officer of Innogy’s retail business, told Reuters.

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