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Russia approves Fortum plan to increase stake in Uniper - anti-monopoly service

Russia approves Fortum plan to increase stake in Uniper - anti-monopoly service
FILE PHOTO: Finnish energy company Fortum sign is seen at their headquarters in Espoo, Finland July 17, 2018. REUTERS/Ints Kalnins   -   Copyright  Ints Kalnins(Reuters)
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MOSCOW (Reuters) – Russia approved Finnish utility Fortum’s <FORTUM.HE> plan to increase its stake in Germany’s Uniper <UN01.DE>, although the deal will only come into effect after legislative amendments, the head of Russia’s anti-monopoly service said on Thursday.

The deal would bring Fortum’s total stake to more than 70.5%. Its ownership of Uniper had been capped at 49.99% by Russian regulators due to a water licence operated by the German firm’s local subsidiary Unipro <UPRO.MM>.

(Reporting by Darya Korsunskaya; Writing by Alexander Marrow; Editing by Mark Potter)

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