BREAKING NEWS

BREAKING NEWS

Innogy to restructure npower after failed deal with SSE - COO

Innogy to restructure npower after failed deal with SSE - COO
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Darren Staples(Reuters)
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ESSEN, Germany (Reuters) - German energy group 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 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.

(Reporting by Tom Kaeckenhoff; Writing by Christoph Steitz; Editing by Riham Alkousaa)

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