Scottish play

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The Independent Online
SCOTTISH POWER, the utilities group, is seeking to buy a US energy company in a deal worth up to $5bn (pounds 3.3bn). "We are looking for a medium- sized vertically integrated utility with small or no nuclear content," said Ian Robinson, chief executive. Scottish Power would prefer an agreed takeover which would leave it in control of the US group.

His comments came as Scottish Power reported a pounds 2m rise in interim pre- tax profit to pounds 247m and unveiled a 10 per cent hike in dividend to 7.50p.