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Gas giant Uniper submits bailout application to German government as Russia squeezes supplies

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Uniper has been in talks with the German government about a possible bailout.

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Embattled German gas giant Uniper on Friday submitted a bailout application for government support after running into extreme financial distress, Finnish majority owner Fortum said in a statement.

Uniper was the first German energy company to sound the alarm over soaring energy bills due to reduced supplies of Russian gas.

It has been in talks with the German government over a possible bailout in recent weeks.

“We welcome that the German Parliament has now approved a ‘toolbox’ which will allow immediate relief to the effects of the gas supply crisis,” said Markus…



Source cnbc.com

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