(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. (bloom.bg/2DlFOUu)
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