The worst kept secret of the Government’s privatisation programme has been all but confirmed, with the Australian media reporting that Mighty River Power will be on sale to Australian investors, says Clayton Cosgrove, Labour’s State Owned Enterprises spokesperson.
The Australian Financial Review, Australia’s most respected business news source, has reported today that Mighty River Power will be listed on both the New Zealand and Australian stock exchanges.
“The Finance Minister keeps promising that Kiwis will
be at the front of the queue to buy shares in the power companies that they already own as taxpayers. And he has insisted that the first share float is likely to be oversubscribed. So if Kiwis get first dibs and demand is going to exceed supply, why list the company in Australia too?