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25 Jul 2021 18:16
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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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     23 Jul: Popular activewear maker Lorna Jane has been fined $5 million and labelled "predatory and exploitative" by an Australian Court
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    To take a step back from the Olympics for a second... the Warriors have been able to get on with business despite the news of New Zealand and Australia's withdrawal from this year's Rugby League World Cup More...



     Today's News

    Tennis:
    Australian tennis star Ash Barty has been sensationally knocked out of the Olympics singles in the first round, stunned by Spaniard Sara Sorribes Tormo in straight sets 18:06

    General:
    The world champion duo of Brooke Donoghue and Hannah Osborne are through to the women's double sculls final, with an Olympic medal on the cards 17:56

    Law and Order:
    Wellington Police are making enquiries following a person being found injured at a Vogeltown address around 2:45 this afternoon 17:26

    Law and Order:
    One person is in hospital in critical condition and armed police are at the scene of an incident at a Wellington property 16:56

    Swimming:
    Australia's women open Tokyo Olympics account with third straight 4x100m gold 16:46

    Tennis:
    Ash Barty loses in opening round at Tokyo Olympics, beaten by Spain's Sara Sorribes Tormo 16:26

    Netball:
    In other sport... and the carrot of a home elimination final hangs in front of the Mainland Tactix ahead of their ANZ Premiership meeting with the Northern Mystics in Christchurch 16:16

    Accident and Emergency:
    Emergency services are at the scene of a single-car crash in Nelson 14:56

    Environment:
    Powerful winds are expected to batter many areas of the country today and tomorrow morning 14:06

    Christchurch:
    A hang glider has reportedly crashed on the coast of Christchurch, near Taylors Mistake 13:46


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