November 15, 2018 / 11:21 PM / 10 months ago

California regulator says agency does not want PG&E to go bankrupt: Bloomberg

(Reuters) - A California Public Utilities Commission official told investors on a conference call that the agency does not want PG&E Corp to go into bankruptcy, Bloomberg reported, citing a person familiar with the matter.

The call was hosted by Bank of America Corp analysts and included the commission's president Michael Picker and other officials, the report said. (

Shares of PG&E surged 37 percent in extended trade on Thursday after dropping 31 percent in regular trading.

A wildfire in northern California destroyed the town of Paradise and killed at least 56 people, igniting fears the utility could be blamed.

Reporting by Ankit Ajmera in Bengaluru

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below