BREAKING NEWS

Report: Japan to take control of Tokyo Electric Power

By REUTERS

APRIL 1, 2011 01:02

TOKYO - Japan's government plans to take control of Tokyo Electric Power Co , 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 was quoted by the paper as saying.

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.

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