EU regulators to rule on Fortum bid for Uniper by June 15

BRUSSELS: EU antitrust regulators will decide by June 15 whether to clear Finnish utility Fortum's bid to acquire 47 percent of German peer Uniper from German energy company E.ON.

Fortum sought EU approval on May 7, according to the European Commission website. The EU competition enforcer can approve the deal unconditionally or demand concessions. It can also open a four-month long investigation if it has serious concerns.

The deal was cleared by Russian authorities last month. Uniper is aginst the Fortum bid, saying it makes little sense as it focuses on gas and coal-fired power plants while Fortum targets clean technologies.