Uniper labour representatives oppose selling the state-owned utility to a strategic buyer, arguing that an IPO (initial public offering, a first sale of shares to public investors) would keep the company intact. Works council head Martin Geilhorn said investor roadshows had shown interest in Uniper shares, while initial meetings to gauge IPO demand went well, according to two people familiar with the matter. The position comes as Berlin advances a dual-track divestment process after bailing out Uniper for €13.5 billion ($15.4 billion) during Europe’s 2022 energy crisis. Worker representatives hold half the seats on Uniper’s supervisory board and fear a strategic buyer could split the group, cut jobs and close sites. EPH, owned by Czech billionaire Daniel Kretinsky, and a joint bid by Canada’s CPPIB and Brookfield are among the indicative offers submitted by the September 21 deadline. Berlin owns 99.12% of Uniper and plans to sell up to 74.12%, retaining a 25% plus one-share blocking stake.