Salem Radio Network News Thursday, August 18, 2022

Business

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

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 Corp.

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

(Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman)

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