UNPRF - Germany nears deal to nationalize gas giant Uniper - Bloomberg

Germany's government is nearing an agreement to nationalize gas utility Uniper ( OTCPK:UNPRF ) ( OTC:UNPPY ), and a provisional agreement between the government, Uniper and Finland parent Fortum Oyi has been reached, Bloomberg reports Tuesday.

The government is considering buying Fortum's controlling stake at a relatively low price and would inject billions of euros into the company through a capital increase, Bloomberg previously reported.

A German government takeover of Uniper is expected to cost more than €30B, according to Business Insider .

Despite easing in recent weeks, European nat gas prices are still more than 7x above the average for this time of year .

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