Toshiba expected to shed voting rights in GNF

Following its majority acquisition of nuclear fuel manufacturers Westinghouse, Toshiba is expected to relinquish voting rights in its Global Nuclear Fuel (GNF) joint venture with GE and Hitachi in order to resolve potential conflicts of interest.

Toshiba holds nearly 25% of voting rights on the GNF board, but like Westinghouse the company also produces fuel for BWR plants, creating a potential commercial confidentiality conflict. The company is apparently reluctant to divest its 22% equity stake in GNF.

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