WELLINGTON, April 11 Shares in New Zealand's
Auckland International Airport fell 10.6 percent on open on
Friday, after a government decision refusing a partial takeover
bid by a Canadian pension fund.
Shares in the top-10 company, New Zealand's main
international gateway, fell 25 cents soon after open to trade
The Canada Pension Plan Investment Board bid for 40 percent
at NZ$3.6555, worth around NZ$1.8 billion ($1.4 billion) was
knocked back by the New Zealand government because there was no
benefit to the country from overseas control of what was deemed
a strategic asset.
The CPPIB said it would neither appeal the government
decision nor further pursue buying a stake in the airport.