Tokyo Electric May Get $13 Billion Bailout
Its finances nearly ruined by the March earthquake in Japan and bad management after the disaster may force the Japanese government to bail out the country’s largest utility Voice of America reports News reports say the Japanese government is prepared to…
Its finances nearly ruined by the March earthquake in Japan and bad management after the disaster may force the Japanese government to bail out the country’s largest utility
News reports say the Japanese government is prepared to bailout the owner of the crippled Fukushima nuclear plant for $13 billion.
Officials with the Tokyo Electric Power Company are negotiating with the government-backed Nuclear Damage Liability Facilitation Fund over the fund’s demand to purchase a two-thirds share in the company, a move that would effectively nationalize the privately-run utility.
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