Uniper bail-out could be discussed with German chancellor on Friday -Handelsblatt

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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 (MCX:GAZP) 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.