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Mighty River Power has been confirmed as the first state company that will have shares sold off under the Government's partial asset sales programme.

Having been sworn in just yesterday, Cabinet has moved fast to get the Government's "mixed-ownership model" going, with the issue a focus for Cabinet in its first meeting's agenda yesterday afternoon.

Under the model, up to 49 per cent of shares in Crown companies, including three other power companies and Air New Zealand, will be sold off.

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