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Mika Lintilä (Centre), the minister responsible for ownership steering, believes Uniper is trying to drive up its share price ahead of a mooted takeover by Fortum.
Mika Lintilä (Centre), the minister responsible for ownership steering, believes Uniper is trying to drive up its share price ahead of a mooted takeover by Fortum.

 

Uniper may be seeking to use communication as a means to raise the value of its shares ahead of its mooted takeover by Fortum, estimates Mika Lintilä (Centre), the minister responsible for ownership steering.

“They’ll definitely be using communication as a means to casting a shadow of doubt,” he stated in an interview with YLE on Tuesday. “At the moment, it’s surely about trying to raise the share value.”

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Fortum, a Finnish state-owned energy utility, announced last month it has signed an agreement for acquiring 46.7 per cent of shares in Uniper, prompting a baffled and antagonistic response from the management of the energy facility operator based in Düsseldorf, Germany. Uniper was created at the beginning of last year to take control of the fossil fuel assets of Eon.

The transaction is set to be completed in early 2018.

Markkinointi & Media pointed out last week that Uniper launched an advertising campaign in Finland on the same day as its chief executive, Klaus Schäfer, criticised the takeover bid in an interview with Helsingin Sanomat.

“The way the offer was made is clearly hostile,” he stated to Helsingin Sanomat. “Why isn’t anyone in Finland asking for reasons for Fortum's interest in buying a company that’s two times its size, that doesn’t fit into its own strategy? Why is Fortum eager to enter Germany, a country with major energy policy risks and that’s new to Fortum?”

The proposed takeover has also come under criticism in Finland, largely due to the pronounced differences in the energy portfolios and strategies of Fortum and Uniper.

Aleksi Teivainen – HT
Photo: Antti Aimo-Koivisto – Lehtikuva
Source: Uusi Suomi

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