John Armstrong analyses the implications of yesterday's move to reduce further the voting rights of the Canadian Pension Fund wanting to buy 40% of Auckland Airport in today's NZ Herald.
He concludes:
The law requires the two ministers to decide on the basis of Overseas Investment Act criteria - not political factors. Yesterday's move by CPP effectively makes it that much harder for Parker and Cosgrove to say "no" without sounding political and ending up in the courts.
