SCOTTISHPower owner Iberdrola is considering selling a stake in its UK electricity grid in a move that could raise around £1 billion enabling it to strengthen its balance sheet and finance further investment.
The Spanish power company has started canvassing potential buyers of a minority stake in the UK transmission and distribution unit. This owns and operates a network of cables and power lines that transport electricity to around 3.5 million homes in the south of Scotland, northern England and Wales.
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