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Reports: Gov't to inject funds into TEPCO

04-02-2011 15:07 BJT

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Japanese newspaper has reported that the government will take control of Tokyo Electric Power -- the operator of the stricken nuclear plant. It follows mounting public concerns over the crisis, and a huge potential compensation bill.

The Mainichi newspaper said the government plans to inject public funds into the company, although it is unlikely to take more than a 50 percent stake. If the stake goes over 50 percent, TEPCO will be considered "nationalized". Analysts say, putting TEPCO under government control isn't necessarily good for shareholders. TEPCO will be repaying the taxpayer funding for some time, and would return little if anything to investors.

Japan's Chief Cabinet Secretary Yukio Edano has since told a news conference, that it's yet to be determined "how" the government would support the nuclear plant operator. TEPCO said it was unaware of any government plan to inject public funds into it, and that now was not the time to discuss the future structure of the company.

Editor:Xiong Qu |Source: CNTV.CN

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