Tag: Anne Russell

Prime Ministerial Press Conference: 16 September 2013

Article – Anne Russell The Prime Minister held a press conference today with Tony Ryall, Minister for State-Owned Enterprises, to announce that Meridian Energy is expected to list on NZX on 29 October. Advertisements will run about the asset sales from tonight. Prime Ministerial Press Conference: 16 September 2013 Scoop Audio+Video+Photos by Anne Russell The Prime Minister held a press conference today with Tony Ryall, Minister for State-Owned Enterprises, to announce that Meridian Energy is expected to list on NZX on 29 October. Advertisements will run about the asset sales from tonight. ******* Up to 49% of Meridian will take place over two months. New Zealanders will be at the front of the queue for investing. Key estimates that around 85-90% of these companies will be owned by New Zealanders, as opposed to 100%. The Genesis Energy share offer will take place in early 2014. Air New Zealand is also back in the game, though process will differ due to it being a publicly-listed company. Key expects it will be sold prior to the next election. The current best estimate of returns from the sale of Meridian is between $5 and $7 billion, probably at the lower end of the scale. Key said that the public had been “overwhelmingly supportive” of the asset sales campaign. Questions were also asked about David Cunliffe’s selection as Labour Party leader, the current...

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Prime Ministerial Press Conference: 16 September 2013

Article – Anne Russell The Prime Minister held a press conference today with Tony Ryall, Minister for State-Owned Enterprises, to announce that Meridian Energy is expected to list on NZX on 29 October. Advertisements will run about the asset sales from tonight. Prime Ministerial Press Conference: 16 September 2013 Scoop Audio+Video+Photos by Anne Russell The Prime Minister held a press conference today with Tony Ryall, Minister for State-Owned Enterprises, to announce that Meridian Energy is expected to list on NZX on 29 October. Advertisements will run about the asset sales from tonight. ******* Up to 49% of Meridian will take place over two months. New Zealanders will be at the front of the queue for investing. Key estimates that around 85-90% of these companies will be owned by New Zealanders, as opposed to 100%. The Genesis Energy share offer will take place in early 2014. Air New Zealand is also back in the game, though process will differ due to it being a publicly-listed company. Key expects it will be sold prior to the next election. The current best estimate of returns from the sale of Meridian is between $5 and $7 billion, probably at the lower end of the scale. Key said that the public had been “overwhelmingly supportive” of the asset sales campaign. Questions were also asked about David Cunliffe’s selection as Labour Party leader, the current...

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PM Post-Cabinet Press Conference – 22 April 2013

Article – Anne Russell Today the Prime Minister announced that the government will make a supplementary disclosure to the Mighty River Power document. The impetus for it was the Labour- Greens NZ Power proposal, which has caused some uncertainties within the sharemarket, … PM: Mighty River Power| NZ Power| National’s Potential Coalition Partners PM Post-Cabinet Press Conference – 22 April 2013 Scoop Audio+Video+Photos By Anne Russell ******* [youtube http://www.youtube.com/watch?v=UcxVOkSz6mE&w=420&h=315] Today the Prime Minister announced that the government will make a supplementary disclosure to the Mighty River Power document. The impetus was the Labour- Greens NZ Power proposal, which had caused some uncertainties within the sharemarket, wiping $500m from the stock exchange. He compared a centrally-planned electricity system to a similar operation in South Korea, and claimed that it has been responsible for electricity price hikes and increased work hours. Key claimed that a competitive electricity market would bring down the rate of price increases, and that state bureaucracy was an inefficient method for controlling the electricity market. NZ Power would introduce regulatory uncertainty, he claimed, which would scare off investors. Key briefly mentioned the 2013 budget, and stated that the government was on track for a surplus in 2014-15. He also mentioned the return of 60 personnel from the Provincial Reconstruction Team in Afghanistan, which marked the end of New Zealand’s involvement there. Thirty Afghan interpreters and their families...

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