Fortum says gets no confirmation of Russian asset withdrawal
HELSINKI, Apr 26 (PRIME) -- Finland's state energy company Fortum has not received official confirmation of nationalization of its Russian assets and is studying the situation, the company said in a statement on Wednesday.
"Russia has issued a new presidential decree which enables the authorities to introduce temporary asset management to assets owned by certain foreign entities in Russia. At this point Fortum has not received official confirmation from the Russian authorities and the company is currently investigating the situation," the company said.
Late on Tuesday, Russian President Vladimir Putin signed a decree introducing temporary nationalization of a 69.8807% stake in Fortum owned by Fortum Russia and 28.3488% owned by Fortum Holding.
Fortum also said that it was unclear how the decree would affect its activities in Russia or the ongoing process of asset sale preparations.