Fentino
Germany’s government is nearing an agreement to nationalize gas utility Uniper (OTCPK:UNPRF) (OTC:UNPPY), and a provisional agreement between the government, Uniper and Finland parent Fortum Oyi has been reached, Bloomberg reports Tuesday.
The government is considering buying Fortum’s controlling stake at a relatively low price and would inject billions of euros into the company through a capital increase, Bloomberg previously reported.
A German government takeover of Uniper is expected to cost more than €30B, according to Business Insider.
Despite easing in recent weeks, European nat gas prices are still more than 7x above the average for this time of year.
Image and article originally from seekingalpha.com. Read the original article here.