Kiwibank sale won’t deliver much joy for NZ Post this Christmas

Kiwibank sale won’t deliver much joy for NZ Post this Christmas
NZ Post chief executive Dave Walsh. (Image: NZ Post)
Brent Melville
NZ Post says most of the $1.1 billion stake it holds in Kiwi Group Holdings, owner of Kiwibank, will revert back to the crown as a special dividend, outside of a "sensible retention".What that retention would look like still had to be confirmed, although finance minister Grant Robertson said the finer details of the purchase would be released prior to Christmas.In August, Robertson announced the government would pay $2.1b to buy back Kiwibank and NZ Home Loans to keep them in the taxpayer's hands. What remained hush-hush is h...

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