Scottish Power set to float telco division

NEWS Scottish Power looks set to go public with its successful telecoms business later this year. The company is considering a flotation to create a telephone and Internet division that would reach over five million customers via combined marketing with the utility's electricity and gas offerings. Selling a quarter of its shares would raise about £250m for the business, which saw profits double last year spurred on by its acquisitions of Demon Internet and US telco PacifiCorp. The PacifiCorp deal is still subject to regulatory approval in the US. The final decision on whether or not to float will be made this summer.