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ABB to keep its Power Grids business -Sonntagszeitung

VIENNA, Sept 18 ** Swiss engineering group ABB has decided to keep its Power Grids division, which was put under review last year, weekly SonntagsZeitung said on Sunday citing a source at the company's headquarters.

** An ABB spokeswoman said all options were still being reviewed, "nothing has changed".

** The company is due to give an update on the future of the unit at its Capital Markets Day on Oct. 4.

** The board will meet at an undisclosed location in Switzerland on Tuesday to discuss the future of the unit, two sources close to the matter told Reuters on Friday.

** "The management favours keeping the structure in broad terms, so this means that a sale of the power grids business appears unlikely," one of the sources said. (Reporting by Kirsti Knolle; Editing by Susan Fenton)

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