16 Oct 2013

Council confident no Govt interference in MRP buyback

6:56 am on 16 October 2013

The Maori Council does not believe the Goverment has interfered in Mighty River Power's share buyback.

The state-owned energy company, which was floated in May, says it has more capital than it needs and will buy back up to $50 million of its own shares.

Some investment analysts and opposition parties say the move is more than just coincidence, since it comes in the middle of the sale period for shares in Meridian Energy.

However, Maori Council co-chair Manu Paul says the Government is Mighty River Power's major shareholder, so it would be foolish for them to interfere close to an election year, then be found out.