Wel Networks confirms interest in United

Waikato electricity company Wel Networks has confirmed an interest in the sale of UnitedNetworks.

New Zealand's biggest electricity lines company has been put up for sale by its majority US owner, Aquila, which holds its share through its ownership of Utilicorp New Zealand - which owns 70 per cent of UnitedNetworks.

Bids have been invited for the whole company or its separate businesses, which include electricity networks across Coromandel, Bay of Plenty and eastern Waikato.

Chief executive Mike Underhill downplayed the move. "We, along with others, have put an expression of interest in but that's all it is."