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Uniper CEO: We are not facing insolvency

Reuters
Klaus-Dieter Maubach, CEO of German utility Uniper, addresses the media in Duesseldorf

FRANKFURT/DUESSELDORF (Reuters) - The chief executive of German utility Uniper, Klaus-Dieter Maubach, on Friday said the stricken company, squeezed between gas scarcity and sky-rocketing prices to fulfil its delivery obligations, was still financially OK.

"We are not close to insolvency," he told reporters at a press conference in Duesseldorf in which the management presented its wishes for the government to use a new energy security law to bail it out.

(Reporting by Vera Eckert, Tom Kaeckenhoff, Miranda Murray, Paul Carrel)