Vector shares surged by 7c to $1.83 yesterday after a report that three parties are bidding for the company's Wellington power network.
Cheung Kong Infrastructure Holdings, State Grid Corp of China, and a group led by Westpac Banking Corp may pay as much as $1 billion for
the asset, the South China Morning Post reported.
Vector gained 4 per cent, the biggest jump since November 30.
Vector hired Goldman Sachs JBWere last August to manage the Wellington sale after receiving approaches from potential buyers.
A Vector spokeswoman said the process regarding the potential sale of the Wellington network "was continuing" but the company would not comment on the participants.
