Sue's Blog

Wednesday, November 15, 2006

Hibernia Shares on the Block?

Premier are you all over this?

Sue's Blog has learned from industry insiders that the 8 1/2 % share in Hibernia held by the feds might be on the block for sale either before or just after the next budget. There has been some increased scrutiny of the Canada Hibernia Holding Corporation - the Federal Crown Agency that holds the shares on behalf of the Crown.
This may be seen as an olive branch to the energy industry - and the first right to purchase belongs to the other partners in Hibernia.
Sue's Blog calls on the Premier to ask Ottawa to reveal its intentions with respect to the shares - and determine if the federal government is willing to hold the shares and transfer all or the majority of the cash to Newfoundland and Labrador.

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