European Energy Giants Wait On Russia Approval For $2.6 Billion Deal

Russia could okay within half a year a deal that would pave the way for Finnish utility Fortum to boost its stake in Germany’s utility Uniper to more than 50 percent, Russian Economy Minister Maxim Oreshkin said on Monday. Earlier this month, Finnish state firm Fortum said that it agreed to buy the combined 20.5-percent stake of activist funds Elliott and Knight Vinke in Uniper, which would give the Finnish company an ownership of more than 70.5 percent in the German utility Uniper, up from 49.99 percent now. Russia, however, is a key jurisdiction…