Uniper Shares Rebound on Reports of Imminent Nationalization Deal
20 September 2022 - 4:39PM
Dow Jones News
By Giulia Petroni
Uniper SE's shares reversed into positive territory late Tuesday
amid reports that a deal to nationalize the struggling gas utility
will be outlined in the coming days.
At 1342 GMT, shares are up 1.5% at EUR4.08, having dropped as
low as EUR3.67 earlier in the session.
A provisional agreement between the German government, Uniper
and its main shareholder Fortum Oyj has been reached and a
statement is expected later this week, Bloomberg reported, citing
unnamed sources.
Last week, Uniper said no decisions beyond what was agreed to in
the stabilization package in July have been made, but that parties
were looking into alternative solutions including a potential
equity raise that would result in a significant majority
participation by the state.
Uniper wasn't immediately available for comment. Fortum Oyj and
the German Economy Ministry declined to comment.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
September 20, 2022 10:24 ET (14:24 GMT)
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