Air NZ asset sale tipped for next week, New Zealand Herald, 13 November 2013:
The Government is being tipped to sell down its stake in Air New Zealand early next week ahead of a referendum asking Kiwis if they support partial sales of state-owned assets.
The Government owns 73 per cent of the national carrier and has said it wants to reduce its stake to 51 per cent, but has yet to name a timeframe.
Several market sources spoken to today said there was an expectation that the deal would be done before a referendum asking Kiwis if they support the Government selling up to 49 per cent of Meridian Energy, Mighty River Power, Genesis Power, Solid Energy and Air New Zealand.
PM says no decision on Air NZ sale timing, Stuff, 14 November 2013:
No decision has been made on when the Government will sell down its stake in Air New Zealand, Prime Minister John Key says.
Asked today if it was true the Government could not sell between December and March, he said: "I don't think that's right. I haven't seen any advice on that."
The timing of the asset-sale referendum "would not make any difference" to the timing of the Air New Zealand selldown, Key said.
Air New Zealand sell down process underway, Press release: New Zealand Government, 17 November 2013:
The Government has today started the process to sell 20 per cent of Air New Zealand shares, Finance Minister Bill English and State Owned Enterprises Minister Tony Ryall say.
“A sale of shares to New Zealand brokers and to New Zealand and some offshore institutions will commence tomorrow, Monday 18 November, via a bookbuild process,” Mr English says. “We expect the transaction to be completed by Tuesday evening.
Air NZ shares sale timing 'arrogant', Stuff, 18 November 2013:
English denied the timing was a "cynical move" to sell off the state asset before a referendum on the Government's mixed-ownership programme kicked off Friday.
"The fact is the Government outlined a programme three years ago," he said.
"The possibility of the Air New Zealand sale and the Genesis sale have been quite clear since we completed [the] Meridian [sale].
"So I don't think it's any surprise to anybody that the Government is proceeding with a programme that it after all, campaigned on back in 2011. A number of the political parties said the 2011 election was a referendum on asset sales so there's no doubt about the Government's mandate."
And then politicians wonder why we think they're all lying little scumsuckers? It's because rather than admit openly to his policies, the Prime Minister lies to our face about them. And then having done so, his chief stooge then tells us that the policy was always clear and, by implication, the Prime Minister's words mean nothing.
Again, why should we believe anything which comes out of these people's mouths again?