Lyttelton sale rejected
The Otago Daily Times reports: The Otago Regional Council has rejected a suggestion Port Otago sell its 15.5% stake in rival Lyttelton Port Company, worth about $35 million, in preferance to borrowing $37.5 million to fund Dunedin’s proposed stadium. Financial research by brokerage ABN Amro Craigs had suggested Port Otago, 100%-owned by the regional council, [...]