United cuts costs in face of share slump

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United Utilities may be forced to break up its divisions following delays to its proposed telecoms...

United Utilities may be forced to break up its divisions following delays to its proposed telecoms IPO. The telecom IPO promised to "de-couple" the company from the water sector and for several months after its announcement the company's share price rose on the back of the TMT hype, only to fall as the tech boom collapsed. Now a much needed IPO isn't a credible option. But a break-up of the group spinning off Vertex, the support services and outsourcing unit, and Norweb Telecom could return up to £1bn to shareholders and streamline the company. In its existing structure, the company ha...

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