Uniper should explore a deeper break-up to overcome antitrust hurdles that have prevented Finland’s Fortum from taking full control of the German utility, activist investor Knight Vinke said on Monday, April 22.
Knight Vinke wants Uniper’s management to table a motion at the May 22 annual shareholder’s meeting to prepare a spin-off of Unipro, a major Russian utility, reported Reuters on Monday.
Finnish state-backed Fortum has since 2018 accumulated a 49.9% stake in Uniper, but Russian authorities have stopped it from gaining full control, arguing that a water-testing license owned by Unipro cannot be majority owned by a foreign state entity.
The power struggle has created tensions at Uniper, and its chief executive and finance chief, who had both openly opposed Fortum’s takeover plan, reported Reuters.
“We and other shareholders are very concerned at the state of quasi-paralysis caused by Uniper and its largest shareholder being unable to agree on a strategy for the company for more than a year,” Knight Vinke wrote in the letter.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
UK Probes Lindab’s Acquisition of HAS-Vent Amid Fears of Market Monopoly
Apr 28, 2024 by
CPI
Shein Faces EU Regulations Over User Data
Apr 28, 2024 by
CPI
Google Fights Back Against US Antitrust Lawsuit
Apr 28, 2024 by
CPI
US Homeland Security Establishes Blue-Ribbon Board with Tech CEOs to Advise on AI
Apr 28, 2024 by
CPI
FTC Accuses Amazon Executives of Using Disappearing Messaging Apps to Conceal Evidence
Apr 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI