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Update: Market Chatter: SoftBank Group Eyes Tepco Stake to Power AI Expansion

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SoftBank Group (TYO:9984) plans to acquire a stake in Tokyo Electric Power Co. or Tepco (TYO:9501) through its telecom division, aiming to secure electricity for AI data centers, Bloomberg News reported on Wednesday, citing CEO Masayoshi Son.

Speaking at a shareholder meeting, Son said SoftBank is a leading candidate among several bidders for Tepco, emphasizing that ownership would enable domestic data center construction, the news wire said.

He confirmed the telecom unit has formally proposed becoming Tepco's next owner, though he provided no additional details on the bid, the publication said.

Softbank Group didn't immediately respond to MT Newswire's request for comment, while Tepco declined to comment, citing "confidentiality considerations concerning the parties that may be under consideration."

(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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