Germany Nationalizes Former Russian Gazprom Subsidiary

...The German government will acquire a 99% stake in the ailing gas importer Uniper, as Russia's gas supply freeze threatened to drive the company into bankruptcy.

On Wednesday, Finnish state-owned energy company Fortum, the former majority shareholder of Uniper, announced it had signed an agreement in principle that will be finalized following the completion of a capital investment and the acquisition of Uniper shares by the German government.

The German Economy Ministry confirmed that the government is taking of a total of 99% of Uniper, creating a "clear ownership structure in order to secure Uniper and thus the energysupply for companies, municipal utilities and consumers."

The acquisition of the shares will be completed after the fulfillment of various regulatory requirements, along with approval at Uniper's general assembly meeting and approval from the European Commission, it added....

@#5 ... Where's Madbomber to bray about the socialist takeover? ...

The takeover would not have been needed if Pres Putin had not done his unprovoked invasion of a sovereign Ukraine.

Indeed, quite the opposite was occurring before that unprovoked invasion, i.e., the West and Russia had been deepening economic ties and trade.

... There's too much private profit being prevented. ...

If you really think that is true, then maybe your should register a complaint with your handlers, and ask them to forward it to Pres Putin for you.

@#8 ... Germany, and probably others in the west, felt that trading with Russia would bring them closer and more integrated into the western sphere. ...

Yup.

... I don't know if it was intentional or not, but Russia basically got the west addicted to cheap energy that aligned with their anti-nuclear ideals. That appears to have been a deal with the devil, and now western Europe is paying for it. ...

Another yup.

At the time I saw those "deals" occurring I raised objections here on this most august site that Europe was addicting themselves to future blackmail.

... If I were an EU representative, I would be planning on a world without Russia as a trading partner. Or at least a primary partner. Nuclear power is the most logical way to provide that IMO. ...

Yup. EU needs to plan a way forward....