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"I am a bit surprised about the magnitude of the writedown given that Vattenfall also made an impairment in late 2012," said Jakob Magnussen, a Denmark-based analyst at Danske Bank. "When it's more likely than not that they're going to see significantly lower income from an asset...they have to do the impairment. This brings the asset more in line with what the market perceives as the fair value of these assets," Magnussen said. Vattenfall will split its operations in two -- one for the Nordic countries and the other for the rest of Europe. The changes will go into effect January 2014 and give the company "greater financial and strategic flexibility."
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