Japan to take over two thirds stake in Tepco: report


  • Japan to take over two thirds stake in Tepco: report

    TOKYO (Reuters) – The Japanese government plans to take a stake of more than two-thirds in Tokyo Electric Power Co (9501.T) in a de facto nationalization of the operator of the crippled Fukushima nuclear power plant, the Yomiuri newspaper said on Wednesday.

    Sources said this month that the government may inject about $13 billion into Asia's biggest utility as early as next summer in a de facto nationalization.

    The Yomiuri also reported that the government is looking at injecting 1 trillion yen ($12.7 billion), and added that banks will be asked to provide 1 trillion yen in loans, citing sources familiar with the matter.

    Source: old.news.yahoo.com