Russia’s government has taken temporary control of the Russian assets belonging to Finnish energy company Fortum and German energy company Uniper, following a presidential decree issued on April 25.

In a statement released on April 26, Fortum said a new CEO of its Russian subsidiary has been appointed, thereby confirming “that the new presidential decree is being enacted and Fortum’s subsidiary has been put under temporary asset management”. A spokesperson told fDi that the company is “continuously investigating the situation”.

On the same day, Uniper said in a statement that it is currently reviewing the legal situation. The German energy company found a buyer for its stake in its Russian business, Unipro, last year, but it has been waiting for approval from the Russian government.

The decree grants the government “temporary asset management” of 83% of the shares in Unipro, 70% of shares of one of Fortum’s local subsidiaries and almost 30% in another Russian subsidiary of Fortum.

Bosch commits $1.5bn to US chipmaker

Germany’s Bosch will acquire the assets of US chipmaker TSI Semiconductors and plans to invest more than $1.5bn to upgrade its foundry, according to a company statement on April 26.

The multinational engineering firm plans to upgrade the manufacturing process at TSI Semiconductor’s facility in Roseville, California to use material silicon carbide (SiC). As of 2026, the plant will make chips produced on 200-millimetre SiC wafers. The full scope of the planned investment will be heavily dependent on the availability of federal funding via the Chips and Science act as well as economic development opportunities within the state of California, Bosch said. No further financial details on the investment have been disclosed.

“With the acquisition of TSI Semiconductors, we are establishing manufacturing capacity for SiC chips in an important sales market, while also increasing our semiconductor manufacturing globally,” Stefan Hartung, the chairman of the Bosch board of management, said in the statement.

Sumitomo invests in Scotland

Sumitomo Electric Industries said in a company announcement on April 27 that it will set up a factory in the Scottish Highlands to make submarine cables. It’s the latest in a string of announcements bolstering Scotland’s potential as an offshore wind hub.

It will supply cables for both offshore wind farms and further grid connections, and aims to capture the increasing demand for high-end cables in the UK. Through its local production and stable supply, Sumitomo expects to serve UK and European customers. 

“We are delighted to work with the cabinet secretary to build a state-of-the-art submarine cable factory in Scotland,” Osamu Inoue, president of Sumitomo Electric, said in a statement, adding that the company will work with the Scottish and UK governments on future offshore wind power and interconnector projects in the region.

And finally: The UK’s Competition and Markets Authority blocked Microsoft’s acquisition of Activision in a bid to protect innovation and choice in cloud gaming, according to a government statement on April 26.