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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