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1 Aug 2021 20:21
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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

    Rugby League:
    The Storm lead the Panthers 18-nil at half-time in their top of the table NRL clash at Suncorp Stadium 19:06

    Business:
    The latest Newshub-Reid Research poll shows Labour can no longer govern alone, plunging 9.7 per cent to 43 per cent 18:56

    Golf:
    Tokyo Olympics live updates: Emma McKeon makes history with 50m freestyle gold, men's golf concludes more athletics on the way 18:46

    Netball:
    The Tactix have reached netball's ANZ Premiership grand final, beating the Steel 54 - 49 in the elimination final in Invercargill 18:36

    General:
    US gymnast Simone Biles pulls out of individual floor exercise final at Tokyo 2020 Olympics 18:36

    Health & Safety:
    The paediatric society is highlighting the benefits of breast milk as World Breast Feeding week began today 18:26

    Christchurch:
    State Highway Eight's now open following a two-vehicle collision near Canterbury's Twizel 18:26

    Swimming:
    Emma McKeon has seven medals at Tokyo Olympics with gold in 50m freestyle and 4x100m medley relay 18:16

    Golf:
    A case of what might have been for Ryan Fox at the Olympics 16:56

    General:
    Valerie Adams has become New Zealand's most successful female Olympian 16:16


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