Japan Blocks TCI J-Power Stake

The Japanese Government has ordered British activist fund TCI not to boost its stake in electricity wholesaler J-Power, due to fears of disrupting the power supply.

The government action is the first time the state has blocked a foreign investor on national security grounds.

The government last month rejected TCI's request to allow it to raise its stake in J-Power to 20 percent from 9.9 percent, which would cost it about US$617m at the current market price, citing the potential threat to national security and a disruption to the power supply, writes Reuters.

By staff writer