Texas Lawmaker Warns Against Hedge Funds "Flipping" Energy Future Unit
June 30,2014
In comments to Reuters, Texas State Senator Troy Fraser has raised concerns with the potential "flipping" of Oncor by any purchasers of the utility in Energy Future Holdings' bankruptcy process.
"My concern is New York hedge funds have a short-term approach," Fraser told Reuters. "The view of Texas is obviously we're interested in someone looking at the long-term strategy or solution, rather than someone who is trying to buy it and flip it."