High street stalwart WH Smith began the process of allowing its retail and news distribution businesses to go their separate ways yesterday.
The London-based company said the demerger move would allow both divisions to benefit from increased focus on their respective strategies.
The proposal, which was first signalled by the company in April, will be put before shareholders in early August with the demerger expected to become effective on August 31. Existing shareholders will receive one share in WH Smith and one share in Smiths News, as the distribution arm will be known.
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