BERLIN (Reuters) – Details of a Uniper bail-out could be discussed at a meeting with German Chancellor Olaf Scholz on Friday, daily Handelsblatt said on Wednesday, citing people familiar with the negotiations.
A rescue package for Uniper must be agreed by July 25, when the German utility could face more serious funding issues as a result of reduced gas supplies from Russia, two people familiar with the matter told Reuters on Tuesday.
Uniper, Germany’s largest importer of Russian gas, is losing cash on a daily basis as it is forced to buy supplies at much higher prices from alternative sources because Gazprom has reduced deliveries.
Berlin is leaning towards taking an equity stake of 15% to 30% in Uniper as the preferred option for a bail out of the stricken group, the sources told Reuters, adding this package would be worth a mid single-digit billion euro amount.
According to Handelsblatt, the purchase of new ordinary shares at par as part of a capital increase as well as additional, equity-like hybrid securities are under discussion.
(Reporting by Kirsti Knolle; Editing by Michael Shields)
