Japan’s TEPCO: no decision yet on sale of KDDI shares «

    Japan’s TEPCO: no decision yet on sale of KDDI shares

    TOKYO (Reuters) – Troubled Tokyo Electric Power Co. (9501.T) said on Monday it is mulling the sale of stock holdings and real estate, but said it has not decided whether to offload its shares in Japan’s No. 2 mobile phone network KDDI Corp (9433.T) “No decision has been made at this current time,” the utility said in a release. The power company, commonly known as TEPCO, plans to sell its KDDI shares to help pay for compensation stemming from the disaster at its Fukushima Daiichi nuclear power plant, the Nikkei business daily reported on Sunday. JP Morgan has estimated TEPCO could face 2 trillion yen ($24 billion) in compensation losses this financial year, while Bank of America-Merrill Lynch has said the bill could reach $130 billion if the crisis continues. (Reporting by Tim Kelly; Editing by Joseph Radford)


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