Children's Investment Fund Management Ltd. is confident that Japan will allow it to double its stake in Electric Power Development Co., said John Ho, Asia chief of the U.K.-based activist fund.
The $10 billion fund, also known as TCI, filed a request Jan. 15 to increase its holding to 20 percent of the utility, known as J-Power. Foreign investors need government clearance to buy more than 10 percent of strategic assets, including power plants, arms manufacturers and aerospace companies. The 30-day government review period was extended to mid-May.
"I believe Japan will do the right thing in the end," Ho said in an interview in Tokyo. "The Japanese government will be fair and therefore give us the approval in the end."