The government's bailout of Tokyo Electric Power Co. will be similar to the 2003 rescue of struggling Resona Holdings Inc., trade and industry minister Yukio Edano said Tuesday.
"The capital injection into Resona will be the model for when the government injects capital" into Tepco, Edano told reporters in Tokyo. "It's widely agreed that Resona has returned to health."
While the government plans to bail out the utility, which has been relying on aid to cover nuclear disaster-related compensation, Edano said Monday the government expects to receive "sufficient" voting rights in return for a capital infusion, adding he would veto any plan that doesn't include this provision. (Japan Times)
↧