8th Jan 2016 06:55
LONDON (Alliance News) - Prominent fund manager Neil Woodford has said GlaxoSmithKline PLC should be broken up, arguing the pharmaceutical giant needs a radical restructuring, the BBC reported.
Speaking in an interview with BBC Radio 5 Live's "Wake Up To Money", Woodford said the complexity of Glaxo was equivalent to having four FTSE 100 companies "bolted together" and said the company does not "do a particularly good job of managing all the constituent parts".
Woodford, who runs Woodford Investment Management, said: "We'd like the business to recognise that it should focus on certain activities in the portfolio and do them better than they have done in the past, demerge the bits they haven't managed particularly well and let other people who specialise in those activities run those businesses."
http://www.bbc.co.uk/news/business-35259184
GlaxoSmithKline has a market capitalisation of GBP65.40 billion
By Sam Unsted; [email protected]; @SamUAtAlliance
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