No takeover please, Uniper CEO says as state exit looms [Yahoo! Finance]
FORTUM OYJ CP UNSP/ADR (FOJCY)
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Source: Yahoo! Finance
efforts to sell down its 99% stake in the German energy trader, which was bailed out at the height of Europe's energy crisis, its chief executive said. Uniper had to be rescued by the German government for 13.5 billion euros ($14.6 billion) in 2022 after former main supplier Gazprom halted flows, but considerations of how Berlin can start selling down its holding have started due to the group's recent turnaround. Options range from the sale of a 20%-30% stake on the open market to the disposal of larger blocks of shares to bigger investors, sources have said. Under German takeover laws, suitors must launch a full takeover bid if they acquire 30% of a listed company. "We do not want to be taken over or integrated into another company. We believe that Uniper can make a special contribution to the energy transition as an independent company," CEO Michael Lewis told Reuters. This marks the first time Lewis has spoken out against a potential takeover as part of Germany's efforts to
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