ABB CEO says Power Grids division evaluation proceeding to plan, no comment on potential buyers
ABB's evaluation of its Power Grids division is proceeding according to plan, Finanz und Wirtschaft reported.
ABB Chief Executive Ulrich Spiesshofer declined to comment when asked by the Swiss bi-weekly if potential buyers have come forward. The report noted speculation that Chinese group State Grid Corporation is interested.
Last autumn, Spiesshofer told the paper all options are under evaluation for the unit, the report stated.
In its first quarter 2016 statement on 20 April Spiesshofer stated: “The strategic portfolio review of our Power Grids division is on track and we will report on it during our Capital Markets Day on October 4, 2016.”
Finanz und Wirtschaft, Company Press Release(s)