Trending: Uniper to Be Nationalized After Russian Gas Cuts
21 September 2022 - 2:12PM
Dow Jones News
1142 GMT - Uniper is among the most mentioned companies across
news items over the past 12 hours, according to Factiva data, after
reports that Germany will nationalize the ailing utility company.
As part of a hotly anticipated deal to bail out Uniper, the German
state will take a roughly 99% stake in the company and inject EUR8
billion. Uniper was Germany's largest importer of Russian natural
gas and suffered heavy financial losses after Moscow curtailed
supplies. The company reported a net loss of more than EUR12
billion for the first half of the year. When the bailout talks
began this summer, the plan was for Germany to take a 30% stake in
Uniper. However, further cuts to gas deliveries from Russia since
July exacerbated Uniper's woes. "This step has become necessary
because the situation has worsened significantly," Robert Habeck,
Germany's economy minister, said Wednesday. Shares in Uniper plunge
35%. Dow Jones & Co. owns Factiva. (cristina.roca@wsj.com;
@_cristinaroca)
(END) Dow Jones Newswires
September 21, 2022 07:57 ET (11:57 GMT)
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