Deals
Obama Budget Ponders Sale of Tennessee Valley Authority
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President Barack Obama is considering the sale of all or part of the Tennessee Valley Authority, the largest publicly owned U.S. power company, in a deal that may raise as much as $35 billion as the administration seeks to reduce the national debt.
A potential sale is part of a “strategic review” of the Knoxville, Tennessee-based nonprofit, which faces increasing capital costs, according to the administration’s fiscal 2014 budget proposal released yesterday. A sale may yield $30 billion to $35 billion in cash and reduced government debt obligations, said Travis Miller, a Chicago-based analyst for Morningstar Inc.