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SSE confirms in discussions with OVO to sell energy retail business

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SSE confirms in discussions with OVO to sell energy retail business
FILE PHOTO: An SSE company logo is seen on signage outside the Pitlochry Dam hydro electric power station in Pitlochry, Scotland, Britain, November 8, 2017. REUTERS/Russell Cheyne/File Photo   -   Copyright  Russell Cheyne(Reuters)
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LONDON (Reuters) – British energy supplier SSE <SSE.L> said on Saturday it was in talks with OVO Group about the sale of its energy retail arm which serves 5.7 million households in Britain.

“These discussions are continuing, however no final decisions have been taken and no agreements regarding the terms of any transaction have been entered into,” SSE said in a statement.

“The board remains focussed on securing the best long-term future for the business, its customers and employees, and for shareholders.”

OVO is already the largest independent energy supplier in Britain with more than 1.5 million customers.

(Reporting by Michael Holden; editing by Jonathan Oatis)

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