Failed Pacific Fibre too risky for Super Fund

Wed, 01 Aug 2012

By Paul McBeth Aug 1 (BusinessDesk) - Pacific Fibre, which today pulled the plug on plans to build another international telecommunications cable linking New Zealand with the rest of the world, was too risky a proposition for the New Zealand Superannuation Fund to invest in. The fund undertook extensive due diligence on investing in Pacific Fibre, but was "unable to gain enough confidence in the opportunity, for our purposes," a spokeswoman told BusinessDesk in an emailed statement. "Any investment we make needs to generate sufficient retu...

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