Texas lawmaker warns against hedge funds ‘flipping’ Energy Future unit

Reuters – A powerful Texas state senator warned against a takeover by hedge funds of the power distribution unit of bankrupt Energy Future Holdings and said the state would prefer an owner with a long-term view.

Senator Troy Fraser told Reuters on Friday [June 27] that Texas prefers that the new owner of the power distribution unit, Oncor, invest cash in the business, and would be concerned about any deal that increases debt levels.

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