November 15, 2018 / 3:55 PM / a month ago

Elliott's raised stake in Uniper to pave way for Fortum deal - sources

FRANKFURT, Nov 15 (Reuters) - Activist fund Elliott’s raised stake in Uniper could pave the way for a new takeover attempt by Finland’s Fortum, which is already the German energy group’s largest shareholder, according to people close to the matter.

Elliott raised its stake to 16.51 percent on Nov. 7, Uniper disclosed in a regulatory filing late on Wednesday, up from 12.8 percent previously.

This extra clout could help break a deadlock in a takeover stalemate between Uniper’s management and Fortum, two sources familiar with the matter said.

Fortum and Uniper declined to comment. Elliott was not immediately available for comment. (Reporting by Christoph Steitz and Arno Schuetze, editing by Tassilo Hummel)

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