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TV1 6pm News (First Segment)

Microsoft Commericial Predator - Microsoft Worth - Fletcher Sale - Kawerau Reaction - Fletcher Deal On Sharemarket - Air NZ Buys Ansett Australia

MICROSOFT COMMERICIAL PREDATOR: The massive software company Microsoft has been found guilty of violating United States' federal Antitrust laws. The ruling could have a widespread effect on markets everywhere including New Zealand. Competitors in New Zealand say extra competition here may make prices drop in the computer sector. However Microsoft NZ, like it's parent company, rejects the court ruling.

MICROSOFT WORTH: The verdict cost the chairman of Microsoft dearly falling stock prices of over fifteen per cent meant Microsoft Corporation dropped over 20 billion US dollars.

FLETCHER SALE: Fletcher Pulp and Paper has sold it’s Kawerau mills to a large Norwegian paper miller Norske Skog which becomes the third biggest timber processing giant in the world. Analysts predict the deal will increase investor confidence in New Zealand. The 750 workers are welcoming the company’s promise to leave pay and working conditions unchanged for the next three years.

KAWERAU REACTION: Meanwhile the town of Kawerau which has suffered knocks in the past is now upbeat about the future. Residents say the buyout should auger well for the town’s future.

FLETCHER DEAL ON SHAREMARKET: The other big interest today was the flow on effect on the Fletcher deal on the local market which rose strongly today.

AIR NZ BUYS ANSETT AUSTRALIA: Air New Zealand shareholders have agreed on the change to by a huge $750 million dollar share of rival Ansett Australia, which makes the airline double in size. The deal will ensure that Australia media magnate Kerry Packer gets 10 per cent of Air New Zealand in ten years time.

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