March 27, 2014 / 1:50 PM / in 5 years

Finland's Kesko drops out of Fennovoima nuclear project

HELSINKI, March 27 (Reuters) - Finnish retailer Kesko on Thursday said it would drop out of the Fennovoima consortium and its planned 4-6 billion euro nuclear reactor, citing increased risks in the project.

Following Kesko’s exit, Fennovoima’s Finnish ownership could drop below the required 50 percent of shares, complicating the project.

Russia’s state-owned Rosatom, which is due to supply the reactor, has taken a 34-percent stake in the project, and Fennovoima’s Finnish owners, including 43 companies, have been looking for new Finnish investors. (Reporting By Jussi Rosendahl, editing by Sakari Suoninen)

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