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Uniper shares hit 14-month low after Russian forces launch invasion of Ukraine

Randy Mancini 2 Feb 24
FILE PHOTO: The logo of German energy utility company Uniper SE is pictured in the company's headquarters in Duesseldorf
FILE PHOTO: The logo of German energy utility company Uniper SE is pictured in the company's headquarters in Duesseldorf, Germany, March 10, 2020. REUTERS/Thilo Schmuelgen/File Photo

February 24, 2022

FRANKFURT (Reuters) -Shares in German utility Uniper, which has substantial business in Russia and is one of the financial backers of the Nord Stream 2 gas pipeline, plunged on Thursday after Russian forces fired missiles at several cities in Ukraine.

Shares in Uniper, which owns a majority stake in Russian utility Unipro, fell as much as 16.7% on Thursday to their lowest level since Dec. 23, 2020.

Finland’s Fortum, which owns 76% in Uniper, was down 6.8%.

Uniper said on Wednesday that it was currently assessing whether the suspension of the Nord Stream 2 pipeline by Berlin would cause impairments on its 1 billion euro ($1.1 billion) exposure to the project.

($1 = 0.8890 euros)

(Reporting by Christoph Steitz, editing by Kirsti Knolle)