When cutting costs is not enough
Running circles round the big banks
At first sight, the strategy is pure and simple. RWE has decided to whittle itself down to a pure energy group, invest €30 billion ($31.5 billion) in new energy businesses and to sell non-related subsidiaries. Finance director Clemens Börsig makes this clear by classifying them as “financial” rather than “strategic” assets.
Stir once, and the waters soon get murky. Yes, Börsig says, RWE sells E-Plus (telecoms) within a few days and plans to sell Heidelberger Druck (engineering).
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