October 15, 2019 / 12:26 PM / a month ago

Russia considers changing law which would allow Fortum/Uniper deal - Interfax

MOSCOW, Oct 15 (Reuters) - Russia’s anti-monopoly service is considering changing regulations which would allow it to approve Finnish utility Fortum raising its stake in Germany’s Uniper, Interfax news agency reported on Tuesday, citing the service.

In October, Fortum agreed to buy a stake of more than 20.5% in Uniper for 2.3 billion euros ($2.5 billion), which would bring its stake to more than 70.5%.

The deal, however, is subject to regulatory approval in Russia, where regulators have so far capped Fortum’s ownership in Uniper at 49.99% due to a strategic water licence operated by the German firm’s local subsidiary Unipro. (Reporting by Polina Devitt; editing by David Evans)

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