October 24, 2018 / 9:21 AM / a month ago

Fortum CEO says talks with Uniper will take time

FILE PHOTO: Fortum CEO Pekka Lundmark listens during an interview at company headquarters in Espoo, Finland, March 22, 2017. REUTERS/Tuomas Forsell

HELSINKI (Reuters) - Finland’s Fortum (FORTUM.HE) said on Wednesday that it did not expect any quick progress for its cooperation talks with Germany’s Uniper (UN01.DE), in which it holds a large stake.

Fortum in June closed a 3.8 billion euro ($4.4 billion) deal to buy around 47 percent of Uniper, which opposed the transaction from the start.

“These talks will take time ... We would of course like these talks to proceed faster, but there are lots of things to discuss,” Fortum Chief Executive Pekka Lundmark told a news conference.

“These are very, very early days, still.”

Reporting by Jussi Rosendahl; editing by Niklas Pollard

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