22 Oct 2009

Trust may seek Govt help to maintain mobile stake

6:47 am on 22 October 2009

Te Huarahi Tika Trust may go back to the Government to seek help maintaining a Maori stake in mobile phone company Two Degrees.

The trust's annual meeting this week heard there's a risk Maori shareholding could fall below 20% if buyers can't be found before the end of the month for $20 million worth of new shares.

The trust was formed after national Maori organisations challenged the sale of spectrum suitable for third generation mobile phone networks, a decade ago.

But chair Mavis Mullins says the deal - which was worth $5 million - does not meet the needs of Maori today and the trust is underfunded. She told Waatea News there is a lot of work to do.