NZX was told Clear's business expenses would fall ahead of acquisition: Weldon

Tue, 17 May 2016

By Sophie Boot May 17 (BusinessDesk) - NZX was aware that Clear's businesses were loss making but were told its costs would drop before the market operator completed its 2009 acquisition, Wellington's High Court has heard. Mark Weldon, the former chief executive of NZX, is on his second day of giving evidence, the fourth witness in the case which has entered its third week and is predicted to last another six. NZX and Ralec have made claim and counterclaim over NZX's purchase of the Australian Clear Grain Exchange in 2009. NZX is suin...

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