October 24, 2019 / 4:34 PM / 19 days ago

Fortum exec hopes Russian state finds solution for Uniper deal

MOSCOW, Oct 24 (Reuters) - Alexander Chuvayev, head of Fortum’s Russian business, said on Thursday the company hoped the Russian state would find a solution to the acquisition of Uniper and the deal would go ahead.

In October, state-controlled Finnish utility Fortum agreed to buy a stake of more than 20.5% in Uniper, bringing its total holding to more than 70.5%.

The deal, however, is subject to approval in Russia, where regulators have so far capped Fortum’s ownership of Uniper at 49.99% due to a water licence operated by the German firm’s local subsidiary Unipro. (Reporting by Anastasia Lyrchikova; writing by Vladimir Soldatkin; editing by Chris Reese)

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