Tepco shares down more than 5% on reported interest in bid for Toshiba

2022.07.06 06:15

FILE PHOTO: The logo of Tokyo Electric Power Co (TEPCO) is pictured at the Energy Market Liberalisation Expo in Tokyo, Japan, March 2, 2016. REUTERS/Toru Hanai

TOKYO (Reuters) – Shares of Tokyo Electric Power Co (Tepco) fell more than 5% briefly on Wednesday after a report that the Japanese utility firm is considering joining a state-backed fund to buy Toshiba (OTC:TOSYY) Corp.

Bloomberg reported that Tepco is considering joining a partnership between state-backed Japan Investment Corp and Japan Industrial Partners to bid for Toshiba.

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