---
title: "Tuppurainen and the Fortum–Uniper Negotiations | Sami Miettinen | Negotiator 146"
titleOriginal: "Tuppurainen Fortum-Uniper neuvottelut | Sami Miettinen | Neuvottelija 146"
episodeNumber: "146"
guest: "Sami Miettinen"
datePublished: 2022-07-26
duration: "19:46"
youtube: "https://www.youtube.com/watch?v=JLJgmAvnjN0"
originalLanguage: "fi"
topics: ["negotiation","ownership_capital_tax"]
subtitleMethod: "none"
provenance: "Owner page assembled from YouTube metadata and the neuvottelija.fi episode record. The publisher published no chapter marks for this episode, so none are listed here. No transcript is published either — the channel has no English caption track for this episode and the Finnish one is YouTube's automatic track. This is a solo episode: the host is the only speaker, and the analysis is his reading of a negotiation he was not party to, based on what was public in July 2022. The arrangement changed substantially after this recording, so the episode is a snapshot of a position that did not hold."
fiCanonical: "https://www.neuvottelija.fi/fi/episodes/200-tuppurainen-fortum-uniper-neuvottelut-sami-miettinen-neuvott"
canonical: https://www.neuvottelija.com/podcast/episodes/ep146-tuppurainen-fortum-uniper-neuvottelut-sami-miettinen/
---
# Tuppurainen and the Fortum–Uniper Negotiations | Sami Miettinen | Negotiator 146

English subtitles are not available on this page. This is an episode summary, not a curated transcript.

## Summary

Viewers voted for the subject, and Sami Miettinen takes the Uniper rescue package negotiated between Fortum, the Finnish government and the German state apart through a negotiator's eyes. Fortum's share fell twenty per cent in a couple of days, so the question is why a company majority-owned by the Finnish state lost so much value and whether a different outcome was available. The episode works through whose side the clock was ticking on, what hidden cards Fortum actually held, and why KfW's nine billion in loans rank ahead of Fortum's eight billion in receivables.

## Who ranks ahead of whom

The analysis turns on a fact that is not a matter of opinion: KfW's nine billion in loans sits senior to Fortum's eight billion in receivables. Once that ordering is fixed, most of what looks like a political outcome is simply the capital structure being enforced, and the question of what Fortum could have demanded narrows sharply.

## Whose clock

Uniper needed a solution by a date. So, therefore, did Fortum. A party with a deadline and a counterparty without one is in a weak position regardless of the merits, and this is the episode's central negotiation point — the one that generalises beyond energy.

## The twenty per cent

The share price move is treated here as information rather than as a scandal: it is the market's estimate of how much of Fortum's claim survived the ranking above. Read that way it is a measurement of the outcome, not an argument about it.


## Watch

The recording lives on the Neuvottelija channel: [Tuppurainen Fortum-Uniper neuvottelut | Sami Miettinen | Neuvottelija 146](https://www.youtube.com/watch?v=JLJgmAvnjN0).
A Finnish edition of this episode is published at [www.neuvottelija.fi](https://www.neuvottelija.fi/fi/episodes/200-tuppurainen-fortum-uniper-neuvottelut-sami-miettinen-neuvott).

## In depth

The Neuvottelija AI editions carry a long-form write-up of this episode:
[English](https://www.neuvottelija.com/ai/ep146-tuppurainen-fortum-uniper-neuvottelut-sami-miettinen/) · [suomeksi](https://www.neuvottelija.fi/economy/ep146-tuppurainen-fortum-uniper-neuvottelut-sami-miettinen/).

## Explore the ideas in depth

- [Negotiation Strategy, Leverage and Power: Reading the Counterparty You Actually Have](https://www.neuvottelija.com/guides/negotiation-strategy-leverage-and-power/): A negotiation guide from the co-author of Neuvotteluvalta — the sources of leverage, BATNA and anchoring in practice, using information asymmetry, breaking deadlocks, and what to do when the counterparty negotiates on power rather than consensus. Grounded in Neuvottelija conversations and two decades of negotiation writing.
- [New Negotiation Power: The Definitive English Framework](https://www.neuvottelija.com/guides/new-negotiation-power-framework/): The authoritative English presentation of Sami Miettinen and Juhana Torkki's New Negotiation Power framework: Power, Analytics, Interaction and Principles; preparation, roles, team design, trust and long-term negotiation performance.

---

Cite as: Sami Miettinen, Neuvottelija — Tuppurainen and the Fortum–Uniper Negotiations | Sami Miettinen | Negotiator 146, https://www.neuvottelija.com/podcast/episodes/ep146-tuppurainen-fortum-uniper-neuvottelut-sami-miettinen/, 2022-07-26. For quotes include episode 146 and timestamp.