DÜSSELDORF/BERLIN (dpa-AFX) - The German government is preparing to sell a large block of shares in the nationalized energy supplier Uniper, according to circles. Initial talks with potential advisors are underway, the Bloomberg news agency reported on Wednesday, citing informed sources. According to the report, the package is to be offered at the end of 2024 or next year. The Federal Ministry of Finance declined to comment.

When asked, Uniper emphasized that it is in constant dialogue with the German government and referred to the agreement reached with the European Commission. According to this agreement, Germany must reduce its stake in Uniper to a maximum of 25 percent plus one share by 2028. An earlier partial privatization could also be of interest to the German government in order to finance the planned restructuring of the rail network.

The German government had supported Uniper with billions in aid in 2022 and acquired a stake of over 99% in the Düsseldorf-based company. The background to this was the lack of gas supplies from Russia. The company therefore had to buy a lot of energy on the market at higher prices. This led to enormous losses and ultimately made it necessary for the federal government to step in to avert a collapse.

In the meantime, the business situation has improved and Uniper expects to have earned billions again last year in its day-to-day business. In addition, the management does not expect to need further capital from the federal government./lew/hoe/mis/jha/