The Prime Minister has announced a delay in the IPO of Mighty River Power:
The Government will proceed with an initial public offering of up to 49 per cent of Mighty River Power in the period of March to June 2013, Prime Minister John Key says.
That would be followed in the latter part of the year by an IPO of up to 49 per cent in either Meridian or Genesis.
“The Government’s preference would have been for a share offer for Mighty River Power this year.
“However, after careful consideration ministers have decided to undertake a short period of consultation with iwi on the ‘shares plus’ concept raised in the Waitangi Tribunal’s interim report.
“Since receiving that report 10 days ago, much of the legal and official advice we have received has been around this concept,” Mr Key says.
In essence, ‘shares plus’ refers to the idea that certain Maori interests would be given particular rights and powers in relation to the company, above and beyond the rights of other shareholders.
Clearly greedy Maori have got their hands out for more free cash via Brown-Mail.
What that statement means is… Shares Plus = Special Rights for Maori = Cash…
Once again the New Zealand taxpayer has been stood over and cash extracted by greedy Maori.