Southern California Edison, which avoided bankruptcy at the same time by selling its transmission lines to the state, is close to insolvency.In this section A covenant with death Pulling the big bird Kalamazoo, forsooth!
Shigeaki Koga, a trade-ministry official, proposes selling the transmission business to finance compensation claims and re-listing the generation business on the stockmarket.As is often the case in Japan, the government is divided over this question.
By selling their transmission licenses for a limited, well-defined time, both the seller and the buyer of a license can take advantage of the adapted allocation.
It intends to sell the transmission unit this year.
Mr Slim had sold the transmission rights to Fox Sports, not to Mr Azcárraga's Televisa, Mexico's biggest broadcaster.
The British cable television company NTL said it would sell its transmission towers business to a group of Australian investors for £1.3 billion ($2.5 billion).
In addition, if the state's two other large utilities, Pacific Gas and Electric and San Diego Gas and Electric, do not reach similar agreements to sell their transmission systems to the state, yesterday's deal could fall apart.
XO, which is based in Reston, Va., agreed in May to buy fiber optic networks from Level 3 Communications Inc. for $306 million to sell data transmission services in Europe.
The government recently decided to sell the transmission and distribution arm of Areva, a state-owned nuclear firm, to Alstom and Schneider Electric, two French companies, despite a higher bid from Japan's Toshiba Corporation.
See articleAreva, a nuclear-power company owned by the French state, entered exclusive talks to sell its transmission and distribution division to Alstom and Schneider Electric, two other French firms.
