Tepco To Sell KDDI Shares To Fund Compensation

Tokyo Electric Power Co., plans to sell shares it holds in KDDI Corp., a major telecom company, to help pay the cost of compensating those who have suffered losses due to the accident at its Fukushima Daiichi nuclear power plant, according to Nikkei. Tepco was KDDI's third-largest shareholder, owning about an 8% stake. KDDI's market cap. is about 2.2 trillion yen.