TCI's stake increase in J-Power rejected
| July 14th, 2008 |
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| The Children's Investment Fund Management(TCI) attempted to double its
9.9% stake in the J-Power, Japan's biggest power wholesaler in an
effort to push J-Power into improving its corporate governance and
increase shareholder return. The Japanese government officially
blocked TCI's bid on May 13, 2008 claiming that it was a threat to
national security and could threaten Japan's capabilities for nuclear
development. Japan has recently been courting investment by hedge
funds and sovereign wealth funds and has claimed that blocking TCI's
bid was a matter of national security rather than a step away from a
more open and transparent market. J-Power is the sole operator of a
transmission grid linking all four of Japan's main islands. It plans
to build its first nuclear power plant that will use only reprocessed
nuclear fuel. |
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For Detailed Investor Profiles on these Investors, click below: |
| | Childrens Investment Fund LP; | Childrens Investment Fund Management (UK) LLP; | TCI; | The Children's Investment Fund; | The Children's Investment Fund Foundation | More Recent Headlines
