NSW 'will not delay sale of Snowy' - Breaking News - Business - Breaking News

NSW Premier Morris Iemma has ruled out delaying the privatisation of the Snowy Mountains hydro-electric scheme.
The NSW, Victorian and federal governments have agreed to dispose of their shares in the electricity company through a stock market float.
Mr Iemma ruled out delaying the sale to allow more public debate on whether the Snowy should remain in public hands.
"We're not delaying, we're freeing capital that's tied up in Snowy businesses that are expanding in other states," he told reporters.
"We're freeing that up for the people of NSW."
Snowy Hydro is believed to be worth up to $3 billion and its sale is expected to be completed by mid-year.
The NSW government owns 58 per cent of the company, Victoria 29 per cent and the federal government 13 per cent.
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