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Prime Minister John Key says the government will go ahead with the sale of Mighty River Power shares – but not until early next year.
- It is not in the national interest for any group within Mighty River Power's potential 49% minority shareholding to be given such rights
- Almost every form of redress to Maori that could be covered by the shares plus scheme can be achieved in other ways.
- The remaining elements of shares plus in relation to decision rights over management or strategic decisions would not be able to work in practice.
- If the shares plus concept existed it was likely to make the company less attractive to investors, which could be reflected in a lower sale price and therefore be to the detriment of taxpayers
- Following consultation with iwi earlier this year, a careful and deliberate decision was made to ensure the crown's obligations under the treaty continue to rest with the crown, not the companies.
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