Tainui CE: 'we have no interest in asset sale shares'

The CE of Tainui Group Holdings has confirmed that Tainui has no interest in buying shares in Mighty River Power.

Mike Pohio made the admission last night when questioned at a public forum to discuss the new Ruakura Inland Port.

'We're stoked that Tainui wants to have nothing to do with asset sales,' says Mighty River People's Power rep Alvina Edwards.

'We wanted the Ruakura forum to make the link between Tainui supporting communities, their business integrity and bottom lines. We asked Mr Pohio about the position of Tainui Group Holdings in relation to the privatisation of Mighty River Power.'

'There is overwhelming community and iwi opposition to the sales,' says Ms Edwards.

At the meeting the group sought clarification on the position of Mr Pohio's manager, Tainui CEO Parekawhia McClean.

Mr Pohio said he did not know her position on asset sales but agreed their might be conflicts between Tainui and government.

Mighty River People's Power recommends that Tainui help build community opposition to asset sales with the following activities:

- by supporting proposed action by Ngati Tuwharetoa to challenge the privatisation of Taupo moana and the Waikato River.
- support and circulate the petition against asset sales among its marae and people.
- the group encourages Parekawhia McClean (and local Maori business woman Tania Simpson) to resign from the board of Mighty River Power as their position is untenable (providing governance to the board while iwi strategise to prevent privatisation, and in light of sky rocketing fees)
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