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Uniper remains independent for now despite Fortum push - CEO

Uniper remains independent for now despite Fortum push - CEO
FILE PHOTO: A logo of German energy utility company Uniper SE is pictured in the company's headquarter in Duesseldorf, Germany, March 8, 2018. REUTERS/Thilo Schmuelgen -
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Thilo Schmuelgen(Reuters)
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DUESSELDORF, Germany (Reuters) – Uniper’s <UN01.DE> CEO will fight to get clarity from top shareholder Fortum <FORTUM.HE> on a range of issues ahead of a planned stake hike, he said in an internal memo, underlining that the German utility will remain independent for now.

“We … need to acknowledge that Fortum with its current or possible future share in Uniper is not only a major shareholder, but also a competitor,” Andreas Schierenbeck told staff in the memo that was seen by Reuters.

“Overall, Uniper is an independent company and will continue to operate as such,” the memo said.

Earlier this week, Fortum agreed to buy a stake of more than 20.5% in Uniper from activist funds Elliott [ECAL.UL] and Knight Vinke for 2.3 billion euros, which would bring its stake to more than 70.5%.

(Reporting by Tom Kaeckenhoff; Writing by Christoph Steitz; Editing by Riham Alkousaa)

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