SCOTTISH power giant SSE has denied plans to break up the company following weekend reports of a split.

Based in Perth, the FTSE 100-listed multinational, which sponsors Glasgow's Hydro venue, has close to 12,000 employees across its operations and a number of subsidiaries.

At the weekend it was reported that SSE is to split its wholesale energy business from the part that builds new wind turbines and other renewables.

That comes after the 2020 sale of its consumer-facing energy arm to Ovo Energy.

But this morning the firm said "no decision" on further changes has been made.

In an official statement, it said: "There has been no decision to break up the SSE Group.

"Following recent reshaping of the group, SSE's clear strategic focus is on renewables and regulated electricity networks, supported by carefully chosen businesses."

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The split has reportedly been championed by Elliott Management, one of the world's most influential activist investors. According to The Telegraph, Elliott has convinced the board of SSE that it makes sense to make the change.

Listing the renewables business on a stock exchange separately would allow it to raise money from investors to put into developments. It would help SSE reach its goal to triple renewable output by 2030.

SSE said its November update will let shareholders know how it plans to further accelerate growth.

This will include how to boost the amount it invests and how it will fund these investments.

Chief executive Alistair Phillips-Davies said: "We have been making excellent progress with our clear net zero-aligned strategy, centred on electricity networks, renewables and other carefully chosen businesses that help provide the low-carbon electricity infrastructure that Government and wider society requires.

"SSE is the UK's national low-carbon energy champion, delivering for both our shareholders and society, and we look forward to updating investors on our plans to accelerate growth and create value in due course."