Billion kronor write-downs in pipeline

In the past two years state-owned Vattenfall has had to write down SKr 53 billion in the value of its business. Svenska Dagbladet reports this morning that CEO Magnus Hall is now planning new write-downs. In a worst-case scenario, Vattenfall may have to take an impairment charge of SKr 15 billion on its Swedish nuclear business, of SKr 15 billion on Nuon and of SKr 30 billion on its German lignite business.