ABB activist Cevian rejects speculation it has held power grids sale talks with competitors (translated)
02 OCT 2016
ABB investor Cevian has denied holding talks with potential buyers for parts of ABB’s grids unit, Schweiz am Sonntagreported.
The Swiss weekly cited a Cevian spokesperson who said rumours in the Swedish press are absurd, noting that as it only holds 6% it is not in the position to hold talks. The spokesperson added that competitors would not enter talks, and claimed the rumours are only a distraction from the real topic which is the advantages of breaking up the unit. The spokesperson said talks had been held before and after investing ABB with over 200 industry representatives which may have included former ABB members and representatives of ABB competitors.