Japan's Tepco works hard to pull out from government control
The Japanese government fund may reduce its stake in Tokyo Electric Power Co (9501.T) to below 50 percent in 2017 if the company achieves its goals including its first bond issuance in six years, the company's president said.
Tepco was saved from bankruptcy by the government in 2012 following reactor meltdowns at its Fukushima-Daiichi plant after an earthquake and tsunami in March 2011.
Tepco, owned 50.1 percent by the government fund, will be vetted in March 2017 to see if the targets set by Tokyo have been achieved. Then the government may lower its stake to below 50 percent next year and in stages to zero by early 2030s.
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Jan 23, 2020 14:09:46 GMT -5