Babcock's fire sale to cut debt
Defence and support services group Babcock, down 7.5p at 520p, has put a number of businesses on the sale block in a bid to reduce debt following its £1.5bn takeover of rival VT this summer.
Analysts believe it could raise £300m to cut its debts, which ballooned to £796m from £302m after the VT deal.
It may offload its rail maintenance arm, its waste division and other operations such as VT's facilities management operation in the US.
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