Japan Examines Future of Tepco, Wall Street Journal by MITSURU OBE And KANA INAGAKI, July 8, 2011:
A government-led panel looking into the future of Tokyo Electric Power Co. is keen to wrest monopoly power away from Japan’s largest utility, but it has for now put aside more radical proposals to break up the company and sell off [...] its transmission networks, which are estimated to be worth as much as ¥5 trillion ($62 billion), enough to handle the likely compensation claims from the nation’s worst-ever nuclear accident.
A person close to a senior government official who favors such a plan said the government won’t push for it at present as it doesn’t want to panic the markets but that a breakup is only a matter of time as the company runs out of cash under the weight of compensation payments and other costs.
“We’re basically waiting for the natural death of Tepco,” the person said, a move that would likely wipe out shareholders and force banks to accept debt waivers. [...]
Published: July 8th, 2011 at 3:41 pm ET
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