Federal and NSW governments withdraw Snowy Hydro shares
Friday, June 2, 2006 The Australian federal and New South Wales governments will not be selling their shares in Snowy Hydro Limited (the owner and operator of the Snowy Mountains Hydro-Electric Scheme). Snowy Hydro Limited’s major shareholder is the NSW government with a 58 percent shareholding. The Victorian government owns 29 percent and the federal government has a 13 percent stake. NSW Premier Morris Iemma announced in December 2005 that he wished to sell the…