May 8, 2018 / 9:38 AM / 2 years ago

EU regulators to rule on Fortum bid for Uniper by June 15

FILE PHOTO: The headquarters of Fortum, the largest electricity distribution operator in the Nordic region, is seen in Espoo, Finland December 12, 2013. Lehtikuva/Antti Aimo-Koivisto via REUTERS

BRUSSELS (Reuters) - EU antitrust regulators will decide by June 15 whether to clear Finnish utility Fortum’s (FORTUM.HE) bid to acquire 47 percent of German peer Uniper (UN01.DE) from German energy company E.ON (EONGn.DE).

Fortum sought EU approval on May 7, according to the European Commission website. The EU competition enforcer can approve the deal unconditionally or demand concessions. It can also open a four-month long investigation if it has serious concerns.

The deal was cleared by Russian authorities last month. Uniper is against the Fortum bid, saying it makes little sense as it focuses on gas and coal-fired power plants while Fortum targets clean technologies.

Reporting by Foo Yun Chee, editing by Louise Heavens

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