German coal exit may slow Fortum plan for Uniper takeover 鈥� analysts
Bloomberg
The push to scrap the use of coal as a power generation fuel by Germany and other European countries could make Finnish energy company Fortum think twice before launching a bid for a full takeover of Uniper, one of the continent鈥檚 biggest burners of the fossil fuel, . 鈥淲e believe that Fortum is likely to wait for more clarity on the German coal and lignite phase-out compensation,鈥� JPMorgan Chase & Co. analyst Vincent Ayral writes in a research note.
Fortum already has a 49.99 percent stake in Uniper. Uniper CEO Klaus Sch盲fer and CFO Christopher Delbr眉ck had announced they will step down in August 2019, ensuring a 鈥渇resh start to redefine the future partnership between the two companies,鈥� . The comments seem to break a deadlock between the two groups ever since Fortum bought a 47 percent stake in Uniper from E.ON last year in a deal that included a full takeover bid and was seen as hostile by Uniper鈥檚 management, .
