Kordia, the state-owned communications company, has sold internet service provider Orcon to a local business group led by Vivid Networks’ Warren Hurst. The price paid in the privatisation has not been disclosed. The deal closed on Friday, the state-owned enterprise said in a statement today. Buyer interest in the ISP intensified in recent months, and Kordia signalled a pending announcement …

Diligent Board Member Service’s directors have come up with a new incentive scheme for chief executive Alex Sodi to replace the stock options it has to cancel after granting him too many. The plan, which will be put to shareholders on June 4 at the annual meeting, will offer Sodi stock and options provided he meets revenue and earnings growth, …

Property for Industry led the NZX50 up before lunchtime today as it announced a deal to merge with Direct Property Fund, an unlisted PIE in the same sector, to create a commercial property empire worth close to $800 million. PFI shares were up 4.9 percent at 11am, at $1.40, and were showing a 14.1 percent gain over the last 12 …