Insider: Government guarantees could weigh heavily on Siemens Energy - shares up sharply
According to insiders, the guarantees granted by the German government could prove costly for the crisis-hit Siemens Energy. The company may have to pay around 500 million euros over the next three years, according to reports.
The DAX-listed company needs guarantees worth billions in order to work off its order book, which has ballooned to over 100 billion euros. The federal government had promised guarantees amounting to 7.5 billion euros. Siemens Energy did not comment on this. There was also no word from the Federal Ministry of Economics. Wirtschaftswoche" was the first to report on the sum. The Siemens Energy share price rose by 8.8 percent.
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Source: www.ntv.de
