The government is forging ahead with plans to sell up to 49 percent of Mighty River Power, with an IPO slated for some time between March and June of next year.
That would be followed in the latter part of the year by an IPO of up to 49 percent in either Meridian or Genesis, prime minister John Key says.
He said the government’s preference would have been for a share offer for Mighty River Power but it will undertake a short period of consultation with iwi on the ‘shares plus’ concept raised in the Waitangi Tribunal’s interim report, which centres around Maori water rights.
Should you buy shares in Mighty River? Here's our semi-definitive guide to the question that's on everyone's minds.