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The government last month won a Supreme Court ruling which allowed the sale to proceed. Indigenous Maori had argued they held traditional rights to the Waikato River water that is used by the power company to generate electricity. The Maori Council argued a listing of the company would prejudice its financial claims to those rights, but the court found that a partial sale wouldn't impede the claims. The government also plans to sell 49 percent stakes in Genesis Energy and Meridian. The planned sale of a minority stake in a fourth energy company, Solid Energy, appears unlikely after that company ran into financial difficulties. The government has also said it may reduce its 73 percent stake in national carrier Air New Zealand.
[Associated
Press;
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