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TEPCO Shares Suspended After Nationalization Report; Billions Of Capital In Flux  Zero Hedge

As reported earlier on Zero Hedge, the next step for TEPCO is most likely nationalization. While this is likely great for bondholders (if an American bailout model is consumed where there is no creditor impairment), it is not that hot for shareholders, who may lose most/all of their investment. Not surprisingly, we have just heard from Reuters that TEPCO shares are now suspended following the earlier nationalization reports: "Tokyo Electric shares were untraded due to a glut of sell orders at 626 yen, down 10 percent from Monday's close. The stock has lost 70 percent since the earthquake and tsunami." And so, the rules change in the middle of the game once again. Only this time it was visible from a mile away.

Also reported in WSJ.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Mar 29th, 2011 at 09:59:33 PM EST

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