Finnish state-owned utility Fortum said that ongoing negotiations for a stabilisation of its German unit Uniper could soon lead to the German state taking control of the near insolvent unit that is a major gas trader and also has been building up a base in renewable power and green hydrogen

“Fortum confirms that the negotiations are in the final stages and that the elements of the agreement under negotiation include a sale of Fortum’s Uniper shares to the German State, return of the financing Fortum granted to Uniper as well as a planned capital injection by the German State to Uniper,” Fortum said, confirming an earlier story by the Bloomberg news agency.