Bloomberg: Yum poised to separate China business

• Yum! Brands (NYSE:YUM), the owner of KFC, Pizza Hut and Taco Bell, is preparing to separate its Chinese and U.S. businesses in a major restructuring of the $31B fast-food group, Bloomberg reports.
• The move follows calls from activist investor Keith Meister, who has suggested Yum could boost its worth by $16/share by exiting China (an increase of about $7B in market value).
• Plans to break up the company are advanced and could be announced before the end of the month.
• Previously: Yum down 16.8% on FQ3 miss, EPS guidance cut; China and India weigh (Oct. 06 2015)
• Previously: Yum names new China chief amid spinoff calls; shares +2.3% (Aug. 18 2015)