New Lynn MP David Cunliffe says he would look hard at the possibility of buying back state assets sold by the National if he became the Labour Party's leader.
Mr Cunliffe and Mt Albert MP David Shearer are vying for the leadership of their party following Phil Goff's announcement he will resign as leader.
The four companies earmarked by National for partial sale are Genesis, Meridian, Mighty River Power and Solid Energy.
On Television New Zealand's Q + A programme on Sunday morning, Mr Cunliffe said, under his leadership, the party would not rule out renationalising some former state assets.
Mr Shearer says he is also opposed to the sale of the country's sovereign assets.
Labour leadership supports Shearer says Cunliffe
Mr Cunliffe says he understands the Labour Party's outgoing leadership is supporting David Shearer's bid to head the party.
Mr Goff announced last week he would resign as leader and Annette King will also step down as deputy leader.
Mr Cunliffe said the outgoing leaders were backing Mr Shearer.
Mr Cunliffe believes it is because he has signalled he would introduce wide sweeping changes that would involve promoting up and coming talent in the party.
He says he has bridges to build with some of his colleagues, but MP Nanaia Mahuta, who is running as his deputy, will help with that as she is trusted by everyone in the party's caucus.
Mr Shearer says he has promised he will not reveal details of the discussions he has had with his Labour colleagues.