Further to
this post and then
this one here at QUQ about NZX’s, ah, unusual purchase of rural publisher CPL - unusual because magazine publishing is nearly as sunset an industry as newspapers are - Cactus Kate has a new, insider-informed and very detailed post raising more issues
here. Do go and read the whole thing, but this is the best comment at her blog so far, which sums it all up nicely:
It is clear the purchases of rural publications is to influence farmers to ultimately allow Fonterra to list which is the NZX’s end game. Hey, means more fees for them which is where one conflict exists.
You are correct: you cant be a regulator and be in business at the same time. If Weldon wants to be in business then fine, give up the regulatory function.
If Jane Diplock has any integrity on this whatsoever she would question it and ask the same hard questions you have here. Based on current form I doubt this will happen.
Meanwhile, more Mark Weldon news – he’s having a
good day:
The share price of stock market operator NZX has shot up as much as 10 percent today.
According to Cactus, he is the third-largest shareholder in NZX, owning 6.51%. Talk about incentives.
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