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Market Chatter: Tepco Seeks Holding Company for Retail, Renewables as Japan Government Seeks Veto Control Over Firm

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Tokyo Electric Power Co. (TYO:9501) is seeking to establish an intermediate holding company for its retail and renewable energy operations, Reuters News reported Tuesday, citing TV Tokyo.

The Japanese government would retain special shares in the business, granting it veto power over major decisions as the utility seeks partners, the news wire said.

Under the "golden share" proposal being explored by the government, the state would maintain control via special equities in Tepco, the publication said.

The Fukushima Daiichi operator, site of the 2011 meltdown, still faces rising decommissioning, cleanup, and compensation costs and relies on public funds, the publication added.

Tepco did not reply to MT Newswire's queries at press time.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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