Rolls-Royce says turnaround needs self-help, not M&A

LONDON, Nov 24 (Reuters) - The chief executive of Rolls-Royce said he did not need to sell or acquire any businesses to help revive its marine unit, as he outlined a turnaround plan based on self-help.

"We can do an awful lot of it with self-help, this isn't a matter of having to go out and spending billions of dollars on acquiring this business or that business, and selling other businesses," chief executive Warren East told investors on Tuesday.

U.S (Other OTC: UBGXF - news) . activist shareholder ValueAct reportedly wants Rolls-Royce to focus on its main aero-engine business, which accounts for about half of profits, and divest the unit which makes engines for marine customers. (Reporting by Sarah Young, editing by Paul Sandle)