Germany nationalises gas giant Uniper amid energy crisis

Germany is to nationalise gas giant Uniper in an effort to secure energy supplies amid the war in Ukraine.

The deal will see the German government take on a 98.5% stake in the firm at a cost of €8.5bn (£7.4bn).

Germany is Europe's biggest importer of Russian gas, and has been particularly squeezed as Russia has reduced supplies in recent months.

Chief executive Klaus-Dieter Maubach said the deal would help Uniper's role as "a system-critical energy supplier".

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