BERLIN – Uniper Chief Executive Klaus-Dieter Maubach is sceptical that the embattled German utility will be able to repay billions of euros in state aid in full, according to the Frankfurter Allgemeine Sonntagszeitung newspaper.
This would be “a very ambitious goal,” Maubach told the paper in comments set to be published on Sunday.
He said that since the beginning of December, daily losses have been close to 70 million euros ($74 million), with the last few days coming in slightly below that figure.
Germany completed the nationalization of Uniper earlier this week after the European Commission approved a 34.5 billion euro recapitalisation plan and Uniper shareholders also gave the green light.
The country’s biggest gas company has seen heavy losses for months because it has been forced to find expensive replacements for missing gas supply from Russia.
($1 = 0.9432 euros)