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ver.di warns of breaking Uniper

Düsseldorf (APA / dpa) – Unions and workers' councils of Uniper mobilize against the imminent destruction of the German energy company before the meeting of Uniper shareholders. If the annual general meeting approves such proposals, at worst there may be a risk of splitting and thus destroying the group, said Ver.di executive director Andreas Shade of Rheinische Post (Saturday edition).

As a result, this can mean losing many jobs. At the annual general meeting on 22 May, Elliot (17.8%) wants to impose a dominance agreement, allowing investor Knight Vine (5.0%) to crush Uniper. The Uniper Board of Directors and Supervisory Board rejected the request.

Knight Vinke has called for the Uniper to sell the Russian and Swedish Uniper power business and submitted a proposal to the annual general meeting. This is to put an end to the current blockage in Uniper. Finnish main shareholder Fortum currently owns just under 50% of Uniper but can not fully take over the company due to the Russian veto by the competition authorities.

The hanging part between Fortum and Uniper called the scene, except Knight Vinke and American investor Elliott. So Eliot asked for a control agreement with Fortum. Uniper said that if the shareholders decide to do so, the company will also follow. But even that will have long-term consequences.

Shade told Fortum to explain. "It is high time for shareholders to decide where to go." Harald Zeetz, head of the Uniper Group's working council, told Fortum to reject the applications. IG BCE has warned that the company now needs a clear strategy and new uncertainty.

~ ISIN DE000UNSE018 WEB ~ APA015 2019-05-18 / 03: 23

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