Manukau City Council won't sell airport shares

Manukau City Council today decided not to support the Canadian Pension Plan Investment Board's offer to buy its share in Auckland International Airport.

Mayor Len Brown said the decision was made after considering the recent CPPIB statement regarding its voting rights.

"We recognise the proposal is now a lot closer to the councils position and we appreciate that. However, it is the councils view that the proposal is still not in the best long term interests of the airport, the city and its residents," Mr Brown said.

- NZ HERALD STAFF