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Fortum Oyj Says Subsidiary Uniper Has Announced That Datteln 4 Power Plant Will Begin Operating On Saturday, 30 May
Fortum Q1 Comparable EBIT Falls To EUR 393 Million
Fortum Cancels Financial Targets
Fortum Oyj is a Finland-based company engaged in the generation and sale of electricity and heat, and operation and maintenance of power plants, as well as energy-related services. The Company operates, along with its subsidiaries, in four business segments: Power, comprising the Company’s power generation, physical operation and trading, as well as expert services for power producers; Heat, consisting of combined heat and power generation (CHP), district heating and cooling activities and business-to-business heating solutions; Russia, including power and heat generation and sales in Russia, and Electricity Solutions, responsible for Fortum’s electricity sales. The Company operates in Finland, Sweden, Norway, the Russian Federation, Poland, Lithuania, Latvia, Estonia, India and the United Kingdom, among others.
Keilaniementie 2-4, CD building
Independent Chairman of the Board
Pekka Ilmari Lundmark
President, Chief Executive Officer, Member of the Executive Management
Independent Deputy Chairman of the Board
Markus Heikki Erdem Rauramo
Chief Financial Officer, Member of the Executive Management
Executive Vice President, Russia Division; General Director of PAO Fortum, Member of the Executive Management
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-- Note: Reuters has not verified this story and does not vouch for its accuracy
Fortum reported a 4% fall in headline first-quarter profit on Friday, beating forecasts with help from gains from hedging as it stuck to its long-term dividend targets.
Finland's top utility Fortum beat expectations with a 4% fall in first-quarter profit on Friday and said it would stick to its dividend policy.
* SAYS OBSERVING THAT GERMAN POWER DEMAND STABILISING AT LOWER LEVELS, BRITAIN, NORDIC DEMAND STILL DECREASING WITH TIME LAG IN CORONAVIRUS CRISIS
* Fortum moves to tighten grip after clinching majority (Adds detail)
* FORTUM CANCELS TOMORROW'S ANNUAL GENERAL MEETING 2020, POSTPONES TO A LATER DATE
Energy company Fortum said on Friday it had met all regulatory conditions to take a majority stake in German rival Uniper, after receiving a final approval from Russian authorities.
Energy group Uniper's new strategy to shift towards greener generation is a step in the right direction, Finland's Fortum, its major shareholder that has been trying to take over its German peer, said on Friday.
* INSTRUCTIONS CONCERNING ANNUAL GENERAL MEETING OF FORTUM CORPORATION
German energy group Uniper will continue to work constructively with its major shareholder, Finnish sector peer Fortum, chief executive officer Andreas Schierenbeck said on Tuesday.
* Sees 2020 dividend of 1.37 eur per share (Recasts, adds CEO quote, details)
Germany's BASF, Finland's Fortum and Russia's Nornickel on Friday said they signed an agreement to map out a battery recycling cluster in Finland to cater the electric vehicle market.
Nokia has rehired former executive Pekka Lundmark from energy group Fortum to lead the Finnish telecoms company's efforts to revive its faltering 5G business.
Finland's Nokia on Monday appointed Pekka Lundmark, until now the CEO of energy group Fortum, as its new chief executive starting from Sept. 1, 2020, the telecoms equipment maker said.
Finnish utility Fortum <FORTUM.HE> said on Friday it has agreed to sell its district heating business in Joensuu, eastern Finland to regional utility Savon Voima Oyj for 530 million euros ($588 million).
Russia approved Finnish utility Fortum's <FORTUM.HE> plan to increase its stake in Germany's Uniper <UN01.DE>, the head of Russia's anti-monopoly service (FAS) and the company both said on Thursday.
German energy firm Uniper , whose top shareholder Fortum is working on a plan to get a majority, will continue to drive its strategy as an independent company, its Chief Financial Officer Sascha Bibert told analysts on Tuesday.
The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:
Uniper <UN01.DE> deliberately obstructed Fortum's proposed purchase of a stake in the German utility by registering assets in Russia as strategic, Kommersant daily quoted Fortum <FORTUM.HE> CEO Pekka Lundmark as saying on Thursday.
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.
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