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London/Geneva — Unilever plans to combine its UK and Dutch arms in a single British parent, reversing a previous plan to consolidate in the Netherlands.

The owner of Dove soap and Ben & Jerry’s ice cream said the move would boost flexibility for stock-based acquisitions and divestments, and the company said the Covid-19 pandemic is making that more important. The Dutch-listed shares rose as much as 3.5% early on Thursday...

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