I think the Asset Sale protestors have been caught napping at their computers. Â They have been so busy
buying collecting signatures for the power company asset sales referendum, this one has slipped under their radar altogether:
…state-owned Kordia has confirmed its retail ISP business, Orcon, is on the block.
“Kordia has been in discussions regarding the sale of Orcon with several parties over a number of months.Â Interest in the business intensified following the announcement of the integration with Kordia in November last year,” a spokesman said.
“Discussions are continuing, and Kordia expects to be able to make a formal announcement in the coming weeks.”
Kordia won’t comment further, citing commercial confidentiality.
However, a well-placed telecommunications source tells NBR Online the deal has already been done.
I’m sure they only sold 49 percent.
Orcon was bought as part of Kordia’s bid to diversify as its once-core analogue TV business faced extinction.
However, recently commentators have pointed out that Orcon sticks out like a sore thumb as the company’s only major retail business (its broadcast, telecommunications engineering and network services have a wholesale focus).
Others questioned why a state-owned company was in the ISP business full-stop.
Where is the outrage?
Isn’t Orcon the KiwiBank of New Zealand’s retail Internet industry?
For Labour and the Green Taliban to be consistent, I expect they will start another push for a Citizen Initiated Referendum to buy back Orcon as soon as the next Green/Labour Government is in power.
It would only be consistent for them to do so.
Source: Â NBR