|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||4.1500 - 4.1500|
|52 Week Range||3.9500 - 5.2640|
|Beta (3Y Monthly)||0.48|
|PE Ratio (TTM)||17.67|
|Forward Dividend & Yield||0.25 (6.13%)|
|1y Target Est||N/A|
DUESSELDORF, Germany/FRANKFURT, May 22 (Reuters) - German energy firm Uniper will not risk its investment grade in fresh talks over cooperation with top shareholder Fortum , Chief Financial Officer Christopher Delbrueck said on Wednesday. "For the Uniper Management Board, ensuring a stable investment-grade rating is the line in the sand for any type of cooperative arrangement," Delbrueck told shareholders at the group's annual general meeting. Finland's Fortum, which failed to take over all of Uniper and has no option to raise its 49.99% stake for regulatory reasons, has started fresh talks with its German peer, raising hopes it will at some point get a majority.
Fortum on Tuesday made progress in talks over cooperation with energy group Uniper , of which it owns 49.99%, shortly after activist funds stepped back from increasing pressure on the Finnish utility to seek full control. Uniper and Fortum have had a strained relationship ever since the Finnish state-owned company launched a takeover bid for the German group in 2017 which Uniper opposed. Now Fortum has struck a deal with activist shareholders Elliott and Knight Vinke to try to resolve a standoff that has paralysed Uniper and has prevented Fortum from acquiring the remaining stake, two people familiar with the matter said.
Activist fund Elliott, Uniper's No.2 shareholder, on Tuesday said it had decided to withdraw a motion that could have forced the German energy group to enter talks over a so-called domination agreement ...
Finland's Fortum, Uniper's top shareholder, will state its position on activist proposals - some of which could trigger a breakup of the German firm - once it has formed a view, a spokeswoman for the group said. Elliott and Knight Vinke, Uniper's second- and third-largest investors, have tabled motions at Uniper's annual shareholder meeting scheduled for Wednesday, which could pave the way for Fortum gaining full control.
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift...
Uniper has rejected a call from activist investor Knight Vinke to spin off its Russian arm to address regulatory concerns that have prevented Finland's Fortum from taking full control of the German utility. Knight Vinke, which holds a 5 percent stake in Uniper, has asked Uniper to table a motion at its May 22 annual shareholder meeting about spinning off Russian utility Unipro.
Having another hedge fund agitator in the form of Knight Vinke must be misery, especially when it’s making rival demands. Andreas Schierenbeck has decided to give it a go, however, with the former ThyssenKrupp AG executive taking on one of the least tempting vacancies in corporate Europe. The hedge funds are backseat driving, and putative buyer Fortum Oyj has a near 50 percent stake.
Finland's Fortum has freed up 310 million euros ($345 million) of cash previously used as collateral at Nasdaq's Nordic power exchange by replacing it with a bank bond, it said on Friday. The move, reflected in Fortum's first-quarter cash flow, aimed to boost available funds for operations and investments, investor relations manager Mans Holmberg told Reuters. The extra money helped lift Fortum's cash flow before financing activities, which rose to 918 million euros in the quarter from just 60 million euros a year ago, the company's earnings report showed.
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. 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, according to a letter to Uniper's management board seen by Reuters on Monday. Finnish state-backed Fortum has since 2018 accumulated a 49.9 percent 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.
In this article we are going to estimate the intrinsic value of Fortum Oyj (HEL:FORTUM) by projecting its future cash flows and then discounting them to today's value. This is done using the Discounted Cash Flow (DCF) model...
German utility Uniper has caved in to demands from activist investor Elliott to allow shareholders a vote instructing management to enter negotiations with its largest investor, Fortum. The company said in a statement on Friday that it has added a vote on a so-called domination agreement - a type of takeover structure used in Germany that allows bidders to tighten their control over a company without holding all the shares - to the agenda for its annual general meeting on May 22. Uniper is currently in talks with Fortum over how to cooperate in the future, an attempt aimed at repairing their strained relationship after Fortum made a hostile bid in 2017.
Shareholders of German utility Uniper are set to vote on a motion by activist investor Elliott to instruct management to prepare a domination agreement with top investor Fortum , Uniper said on Friday. ...
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Fortum Oyj and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is for th...
The project will use induction technology, with charging plates installed in areas where taxis park. All taxis in Oslo are set to be zero-emission from 2023. Taxis in the Norwegian capital, Oslo, are set to use wireless fast-charging technology to keep them running.
Norway's capital Oslo will become the first city in the world to install wireless charging systems for electric taxis, hoping to make recharging quick and efficient enough to speed the takeup of non-polluting cabs. The project will use induction technology, with charging plates installed in the road at taxi ranks linking to receivers installed in the vehicle, Finnish utility Fortum said on Thursday. From 2023 onward all taxis in Oslo will have to be zero emission and Norway wants all new cars to be zero emission by 2025.
Activist investor Elliott on Thursday called for a shareholder vote to push the management of German utility Uniper into talks with its top investor Fortum, hoping this will result in the Finnish group getting full control. Elliott, Uniper's No. 2 shareholder with 17.84 percent, wants investors to decide at the group's next annual shareholders' meeting on May 22 on whether Uniper should enter discussions with Fortum over a so-called domination agreement.
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). We'll show how you can use Fortum Oyj's (HEL:FORTUM) P/E ratioRead More...
Want to participate in a short research study? Help shape the future of investing tools and receive a $20 prize! Today we'll evaluate Fortum Oyj (HEL:FORTUM) to determine whether itRead More...
German utility Uniper said on Wednesday there were no taboos in the fresh talks it will hold with its largest owner Fortum, breaking a long-standing deadlock between the two and potentially paving the way for a full take over. Fortum - majority owned by Finland - has a 49.99 percent stake in Uniper. Activist investors Elliott and Knight Vinke have disclosed stakes of 17.84 percent and 5.02 percent, respectively.
FRANKFURT/DUESSELDORF (Reuters) - Uniper said on Wednesday nothing was off limits in fresh talks with Finland's Fortum, its top shareholder, renewing investor hopes for a full takeover of the 9.7 billion euro ($11.1 billion) German energy group. The comments seem to break a deadlock between the two groups ever since Fortum bought a 47 percent stake in Uniper from E.ON last year in a deal that included a full takeover bid and was seen as hostile by Uniper's management. Fortum last week said it had raised its stake to 49.99 percent, the maximum it is allowed to own after Russian authorities capped its ownership of Uniper at 50 percent due to a water license its Russian unit Unipro holds.