Utilico Investments, a UK investor managed by Infratil director Duncan Saville’s ICM, has reduced its stake in Infratil after participating in the Wellington-based company’s buyback and selling shares on market. Utilico’s holding reduced to 11.8 percent from 13.3 percent after it sold 6.6 million shares in last week’s buyback at $2.38 apiece and sold 5 million shares in March at …

Reserve Bank governor Graeme Wheeler is expected to leave the official cash rate unchanged in his final review of 2013, while giving financial markets little reason to change their view that the tightening cycle will start in the first quarter. By March the OCR is expected to be at 2.75 percent, rising to 3 percent in the June quarter and …

Telecom Corp, the country’s biggest telecommunications company, has sold its Australian AAPT unit for A$450 million to ASX-listed internet service provider, TPG Telecom, beating initial expectations of what the unit would go for. The Goldman Sachs-managed sale is expected to be completed on Feb. 28, and was at a multiple of about 6.4 times AAPT’s recurring annualised earnings before interest, …