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27 Jul 2021 8:43
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  •   Home > News > Business

    Institutional investors say Westpac's decision not to demerge its New Zealand business, is a blow to the local sharemarket

    Institutional investors say Westpac's decision not to demerge its New Zealand business, is a blow to the local sharemarket


    The Australian bank has decided to keep the New Zealand arm after a review showed the demerger wouldn't be in the best interest of its shareholders.

    Devon Funds Management's portfolio manager Tama Willis says they would have fully supported Westpac coming to the local market.

    He says it would have been about eight per cent of the New Zealand sharemarket, and would have added a new investment opportunity for New Zealand based funds.

    © 2021 Newstalk ZB, NZCity

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     Today's News

    Entertainment:
    Andi Dorfman is "tremendously proud" of her cousin Tommy Dorfman for coming out as transgender 8:16

    Law and Order:
    Seven teenagers - aged 13 and 14 - have been picked up by police in West Auckland after a motorway joyride 8:16

    Hockey:
    The women's Black Sticks are thankful for a rest day two games into their unbeaten Olympic hockey campaign 8:06

    Politics:
    Getting her house in order will be the first priority for Samoa's new prime minister 8:06

    Entertainment:
    Tinie Tempah believes "everyone" has a responsibility to protect the environment 7:46

    Environment:
    Southland farmers are sending truck-loads of feed north, to help out those in Canterbury 7:46

    Business:
    New figures show transport bureaucrats get ten times better value for money on cycleways, compared to what's expected from Auckland's new cycle bridge 7:36

    Health & Safety:
    West Coast DHB staff are moving back into the Buller Health centre after repairs to flood damage 7:26

    Entertainment:
    The Duchess of Sussex's father has threatened to take her to court to see his grandchildren 7:16

    Netball:
    The Stars have finished their ANZ Premiership netball season with a 65-46 victory over the Magic in Auckland 7:16


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