Japan to Seize Tepco on Same Terms as 2003 Resona Rescue
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Japan plans to seize control of its biggest utility on the same terms it applied to a bailout of the nation’s fifth-biggest bank nine years ago.
The government will inject 1 trillion yen ($12 billion) capital into beleaguered Tokyo Electric Power Co. as early as July, taking more than 50 percent of voting rights in return, the Nikkei newspaper said April 28. It will have an option to boost to two-thirds its voting rights in the utility known as Tepco, Nikkei reported.