E.ON cuts value of Nord Stream 1 stake by more than half

FRANKFURT (Reuters) - E.ON, Europe's largest operator of energy networks, on Wednesday cut the value of its stake in the Nord Stream 1 gas pipeline by around 700 million euros ($715 million), citing "heightened uncertainty" over the impact of Russia's war on Ukraine.

E.ON in March said that the 15.5% stake, held indirectly via the firm's pension fund, has a book value of 1.2 billion euros.

($1 = 0.9792 euros)

(Reporting by Christoph Steitz; Editing by Paul Carrel)