Port of Tauranga dampens merger speculation

Thursday 19th May 2011

Port of Tauranga has dampened speculation that Ports of Auckland could be looking at merging with it.

In a brief statement today Port of Tauranga chief executive Mark Cairns said his company had no recent approach from Ports of Auckland or its shareholder on a possible merger.

His comment follows a story in The National Business Review which said merger talks between the two port companies could be back on the table.

The article suggested such a merger had been hinted at in the minutes of an Auckland Council committee.

The organisations strategy review subcommittee had asked for opportunities and implications of cooperation and alliance with rival ports in Tauranga and Whangarei to be addressed in the long term strategy for the Port of Auckland.

Previous talks about a merger between the two ports collapsed.

Port of Tauranga shares reached a record $9.10 during morning trade today and at noon were up 10c at $9.05.

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