October 24, 2018 / 9:20 AM / 9 months ago

Fortum CEO says talks with Uniper will take time

Fortum CEO Pekka Lundmark talks to reporters at Fortum headquarters in Espoo, Finland, September 27, 2017. REUTERS/Jussi Rosendahl

HELSINKI (Reuters) - Finland’s Fortum (FORTUM.HE) said on Wednesday that it did not expect any quick progress for its cooperation talks with Germany’s Uniper (UN01.DE), in which it holds a large stake.

Fortum in June closed a 3.8 billion euro (3.4 billion pounds) deal to buy around 47 percent of Uniper, which opposed the transaction from the start.

“These talks will take time ... We would of course like these talks to proceed faster, but there are lots of things to discuss,” Fortum Chief Executive Pekka Lundmark told a news conference.

“These are very, very early days, still.”

Reporting by Jussi Rosendahl; editing by Niklas Pollard

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