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Finnish minister to negotiate with Germany over Uniper – official

The Uniper emblem is seen in front of the utility’s business headquarters in Duesseldorf, Germany, July 8, 2022. REUTERS/Wolfgang Rattay

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HELSINKI, July 12 (Reuters) – Finland’s possession steering minister Tytti Tuppurainen will fulfill with the German govt and utilities Fortum and Uniper in Berlin on Thursday to find a remedy to Uniper’s economical challenges, a Finnish government official informed Reuters on Tuesday.

Uniper (UN01.DE), Germany’s largest gasoline importer, past week asked the German govt for a bailout, warning losses due soaring fuel prices and falling Russian supplies could reach 10 billion euros ($10 billion) this 12 months. read through far more

A dispute between Germany and Finland in excess of the cost of the rescue flared at the weekend just after German economic climate minister Robert Habeck claimed Uniper’s principal shareholder, Finnish state strength firm Fortum (FORTUM.HE), ought to contribute. examine much more

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Fortum turned down that simply call, saying it had previously presented Uniper 8 billion euros in financial loans and ensures.

The Finnish formal explained nevertheless that the cooperation involving Finland and Germany has been good. Germany’s economic climate ministry and Uniper experienced no immediate comment when contacted by Reuters.

Uniper, in which Fortum owns a 78% stake, has been having difficulties to meet shipping obligations due to thinning gas provide from Russia, which led to the company very last week submitting for aid from the German federal government.

Finland’s Fortum has as element of the negotiations proposed separating functions that are essential to Germany’s electricity source from the relaxation of Uniper and transferring them to German federal government possession.

German union Verdi warned on July 11 that Fortum was risking “open conflict” with the union if it experimented with to break up the troubled gasoline utility.

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Reporting by Essi Lehto, Tom Kaeckenhoff and Markus Wacket Editing by Stine Jacobsen and Jan Harvey

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