Suez Dithering

Suez’s awkward structure has obvious penalties, the least of which is forcing shareholders to wade through a confusing annual reports several hundred pages long. Knight Vinke, the latest investor group to push the French utility to break up, may be a hedge fund with a short-term focus. But the longer management lets Suez’s problems drag on, the more it looks like KV has a point. Suez owns slightly more than half of Belgian utility Electrabel. And this asset accounts for almost half of Suez’s mar...