One of Royal Dutch Shell’s biggest shareholders has dismissed activist hedge fund Third Point’s proposal to split the oil major into separate companies, saying it would be too complicated and unlikely to add value for long-term investors.
Iain Pyle, a fund manager at Abrdn, said that while breaking up the company might look like an “interesting proposition” on a spreadsheet, it would be hard to do because of Shell’s integrated operations.
“People are fully aware of how difficult it would be to break up Shell,” he said. “Just because Third Point says it makes compelling financial logic doesn’t mean it will happen.”
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