TEPCO shares soar 18.59pc on support bill
TOKYO: Shares in embattled TEPCO soared 18.59 percent by noon Tuesday amid investor relief after the government approved a bill to help the utility compensate people affected by its nuclear accident.
The government at a cabinet meeting on Tuesday approved a bill to help Tokyo Electric Power Co. (TEPCO) compensate thousands of people affected by the accident at its Fukushima Daiichi plant, the world's worst nuclear disaster since Chernobyl.
The bill, which is yet to be approved by parliament, will see the creation of a body to handle claims made against TEPCO and will be funded by public money as well as contributions from power companies.
TEPCO shares have plunged to all-time lows amid recent uncertainty over the extent of the government's support to the beleaguered firm.
Copyright AFP (Agence France-Presse), 2011
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