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Large Cap
Market Cap £4.18bn
Enterprise Value £29.87bn
Revenue £13.37bn
Position in Universe th / 6853

Reuters Insider - PG&E files for bankruptcy

Wed 30th January, 2019 8:07am
Click the following link to watch video:,2019:newsml_OV9Z74N0R:_930&pageId=ReutersNews
Source: Reuters Insider

Description: Power provider PG&E filed for voluntary Chapter 11 bankruptcy
protection, succumbing to liabilities stemming from wildfires in Northern
California. Roselle Chen reports.
Short Link:

Video Transcript:

PG&E filed for bankruptcy protection in anticipation of liabilities from
California wildfires. The company provides electricity and natural gas to 16
million customers in northern and central parts of the state, and employs
24,000 people. It vowed to keep the lights on as it grapples with fire-related
costs of more than $30 billion. Morningstar's Equity Strategist Travis Miller.

Is there anybody willing to buy any part of PG&E and deal with the California
regulation? The only thing we could see is a surge of claimants coming in and
taking part of the business as a return for the fire liabilities, and we can
also see a ruling from the judge that essentially splits the pie among a bunch
of different stakeholders and preserves some of the equity value for

PG&E shares, which lost three quarters of its value since before the latest
fire in November, were up in early trading
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