Germany reaches provisional agreement on Uniper nationalization - Bloomberg

Fortum also did not comment on the report while Uniper was not immediately available for comment. Uniper said last week that the government might take a controlling stake in the company as the ailing gas importer seeks further aid, paving the way for what could result in a full nationalisation of the firm.


Reuters | Berlin | Updated: 20-09-2022 17:39 IST | Created: 20-09-2022 17:09 IST
Germany reaches provisional agreement on Uniper nationalization - Bloomberg
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Germany has reached a provisional agreement with Uniper and its Finnish parent, Fortum, about nationalizing the ailing German gas importer, Bloomberg reported on Tuesday, citing sources familiar with the situation. The German government aims to make an announcement regarding the agreement this week although contracts have not yet been signed, according to the report.

The German economy ministry would not comment on the report, saying discussions were ongoing. "When these are completed, we will let you know," said a spokesperson. Fortum also did not comment on the report while Uniper was not immediately available for comment.

Uniper said last week that the government might take a controlling stake in the company as the ailing gas importer seeks further aid, paving the way for what could result in a full nationalisation of the firm. Uniper, Germany's largest importer of Russian gas, burned through its cash reserves sourcing gas on the expensive spot market after Moscow slashed flows to Germany, triggering a rescue package with Berlin agreed in July.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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