Polish Briefing 11 October, 2017 9:00 am   
COMMENTS: Mateusz Gibała

Polish Briefing: New threat for Nord Stream 2. Uniper’s shares takeover by Fortum is “pointless”

What goes on in Poland on the 10th of October.

Orlen initiates a domino effect. Next companies may demand money from Lithuania

Latvijas Dzelzcels railway company and the Free Harbour of Riga may turn to Lithuanian Railways for a compensation for dismantling a railway segment Mazeikai-Renge, what hindered the cooperation with Mazeikai Refinery controlled by Orlen Lietuva. Poles won the dispute with Lithuania before the European Commission.

European Commission punished Lithuanian Railways with € 28 million for anti-monopoly laws infringement by unjustified dismantling the rails. It raised the costs of petroleum products produced by Orlen Lietuva, daughter-company of PKN Orlen.

Latvijas Dzelzcels representative Maris Ozols informed that his company is still rating the situation and does not exclude claims towards Lithuanians. Latvia also took a statement towards rails dismantling. In an official not it demanded explanations of this act from Lithuania’s diplomacy.

New threat for Nord Stream 2. Uniper’s shares takeover by Fortum is „pointless”

Because of his reluctance towards an idea of a Uniper’s takeover by Finnish Fortum, its CEO Klaus Schaefer tells the Russian media how this transaction could influence corporation’s works, including Nord Stream 2, in which it is engaged.

Finnish state-owned company Fortum announced two weeks ago that it would buy 47 per cent of German Uniper’s shares. The transaction may have a crucial meaning for realization of Nord Stream 2 as Uniper is one of five companies engaged in its financing. Wintershall, Shell, OMV and Engie are remaining ones.

Schaefer says that negotiations have taking place between E.on and Fortum without his presence. He convinces that Fortum’s offer appeared in July but it was then rejected because the price was too law and the transaction itself was „pointless”. – This is the case that the bride standing before the altar is forced to a smile – he said to Russian Kommersant. The manager reminds that the goal of Uniper’s strategy is a global expansion and Fortum is a local company. According to German, the Finnish company does not have € 8 billion promised in exchange for German company.