Trade minister Akira Amari defended the government’s move to delay its decision on a U.K. hedge fund’s bid to double its stake in the nation’s biggest wholesale power producer, citing national security.
The government extended the standard 30-day review until mid-May after Children’s Investment Fund Management Ltd. in January sought permission to buy a 10 percent stake valued at ¥63.3 billion and raise its holding in Electric Power Development Co., known as J-Power, to 20 percent.
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