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Japan likely to block U.K. fund’s bid to raise J-Power stake

HONG KONG (MarketWatch) — The Japanese government will block a bid by the U.K’s Children’s Investment Fund to raise its stake in Electric Power Development Co. , according to a media report Wednesday. A finance ministry panel concluded Tuesday that the bid by the hedge fund to raise its stake to 20% from 9.9% in the utility, which is also known as J-Power, would be detrimental to the public interest, the business daily Nikkei reported. The ruling effectively sinks the hedge fund’s bid to invest an estimated 60 billion yen ($593 million) into the utility. The government’s decision was expected to be conveyed to the U.K. group Wednesday.

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Original post by Forextvblog

This entry was posted on Tuesday, April 15th, 2008 at 11:13 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Japan likely to block U.K. fund’s bid to raise J-Power stake”

  1. Japan likely to block UK fund’s bid to raise J-Power stake Says:
    April 16th, 2008 at 12:14 am

    […] contact@actionforex.com (ActionForex.com) wrote an interesting post today onHere’s a quick excerptHONG KONG (MarketWatch) — The Japanese government will block a bid by the UK’s Children’s Investment Fund to raise its stake in Electric Power Development Co. , according to a media report Wednesday. A finance ministry panel concluded … […]

  2. Forex » Japan likely to block U.K. fund’s bid to raise J-Power stake Says:
    April 16th, 2008 at 12:28 am

    […] The FX Hub! wrote an interesting post today onHere’s a quick excerptJapan likely to block U.K. fund’s bid to raise J-Power stake April 15th, 2008 HONG KONG (MarketWatch) — The Japanese government will block a bid by the U.K’s Children’s Investment Fund to raise its stake in Electric Power Development Co. , according to a media report Wednesday. A finance ministry panel concluded Tuesday that the bid by the hedge fund to raise its stake to 20% from 9.9% in the utility, which is also known as J-Power, would be detrimental to the public interest, the business […]

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