22 Apr 2013

Some iwi seriously consider buying power shares

7:20 am on 22 April 2013

Some North Island iwi organisations are seriously considering investing in Mighty River Power shares, so that their members get the benefit of the shares.

Earlier this year, the Maori Council and other claimants were defeated in their legal attempts to stop the partial sale of the hydro power generator, through a series of challenges that ended at the Supreme Court.

Te Runanga o Te Rarawa chairperson Haami Piripi says it has 23 Maori communities in their tribal area with about 30,000 members.

He said any decision to invest in Mighty River Power shares would be for the benefit of the iwi, and that Te Rarawa needed to adapt and be innovative in considering this.

Members of the Whatitiri Maori Reserve Trust are also considering buying shares.