Nicola Willis: Finance Minister on the Government buying $200 million in new Genesis shares

The Finance Minister says there's no mandate to reduce the state's shareholding in Genesis Energy.  The Crown's directing $200 million towards new shares to retain a 51% shareholding in the company, following a $400 million capital raise.   Nicola Willis told Mike Hosking if we don't take part in this raise, we'd be breaching the law requiring the state to maintain majority ownership – something the coalition's committed to.   She says we don't want to be a barrier to these energy companies growing in the way New Zealanders need to secure electricity supply.  LISTEN ABOVE See omnystudio.com/listener for privacy information.