Tokyo Electric Power Company (Tepco) may sell Y200bn (US$2.6bn) worth of shares in Japanese mobile operator KDDI in order to pay for compensation claims following the disaster at its Fukushima nuclear power plant in early March, according to Reuters…
Tokyo Electric Power Company (Tepco) may sell Y200bn (US$2.6bn) worth of shares in Japanese mobile operator KDDI in order to pay for compensation claims following the disaster at its Fukushima nuclear power plant in early March, according to Reuters citing Jiji news agency.
A couple of weeks ago Kazuhiko Shimokobe, chairman of a government panel overseeing the company’s restructuring, was quoted saying that the stake could either be sold back to KDDI or be released to the market.
But a Tepco spokesman reportedly denied any plan to sell the stock back to KDDI.
A few months ago, in the wake of the earthquake, it had already been reported that Tepco was looking to sell shares in several companies. But at the time the company was quoted saying that it was still undecided about divesting its 7.97% stake in KDDI.