Yum Brands (YUM) said on Tuesday that it has initiated a formal review of strategic options for the Pizza Hut brand.

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The company said that the intent is for Pizza Hut to reach its full potential for the benefit of its franchisees, consumers, and employees, and to maximize value for Yum shareholders.

Yum Brands stated that it has not set a deadline or definitive timetable for completing the strategic options review, and there can be no assurance that this review will result in any specific outcome or transaction. 

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