U.K. Water Company Pennon Leaving FTSE 100 Index, Tui to Replace
Pennon Group Plc (PNN), the third-largest publicly traded water utility in the U.K., is leaving the FTSE 100 in a rebalancing of the index and is being replaced by the leisure travel company Tui Travel Plc. (TT/)
Pennon, whose shares have fallen 13 percent this year, will become part of the FTSE 250 Index instead following a quarterly review, the FTSE group said in a statement. The changes take effect Dec. 24.
Exeter-based Pennon also owns the waste management company Viridor and South West Water Ltd., a water and sewer service provider for Devon, Cornwall and parts of Dorset. United Utilities Group Plc (UU/) is Britain’s biggest publicly traded water company.
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