TOKYO (Reuters) – Japan’s government plans to take control of Tokyo Electric Power Co (9501.T), the operator of a stricken nuclear power plant, by injecting public funds, the Mainichi newspaper said on Friday.
But the government is unlikely to take more than a 50 percent stake in the company, an unnamed government official was quoted by the daily as saying.
“If the stake goes over 50 percent, it will be nationalized. But that’s not what we are considering,” the official said.
The company, also known as TEPCO, has come under fire for its handling of the emergency at its Fukushima Daichi nuclear complex, triggered by a March 11 earthquake and tsunami that left more than 27,500 people dead or missing.
A series of missteps and mistakes, combined with scant signs of leadership, have undermined confidence in the company. TEPCO shares are down almost 80 percent since the disaster.
Mainichi quoted a government official as saying:
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