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Toshiba and GE breakups signal start of 'great carbon reset'

Conglomerates take on inefficiencies as climate fears upend old industrial order

General Electric and Toshiba are giant corporate groups whose operations span numerous industries.   © Reuters

TOKYO -- Around two weeks before Toshiba officially announced its three-way separation Friday, it is said to have received a brokerage's final proposal based on discussions by the Japanese conglomerate's strategic review committee.

Years of scandals had forced Toshiba to divest many crown jewels and had sent it to the brink of delisting. But instead of going private -- or dismantling itself in a move tantamount to suicide -- the company now appears to be proactively trying to shed its so-called conglomerate discount.

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