KEY POINTS:
Auckland City Council tonight unanimously agreed to vote against the bid by Canadian investors to purchase a 40 per cent stake in the Auckland International Airport.
The council had already voted against selling its 12.75 per cent shareholding in the airport.
"We're not going to take any money and we're not going to run," Mayor John Banks said. "On balance, in the medium to long term, we believe Auckland City Council will have a better chance of getting the most out of our investment in Auckland Airport without [the Canadian Pension Plan Investment Board] holding a 40 per cent stake.
"We do not see any advantage to the shareholders of Auckland City to support this proposal."
The council will lodge its objection to the CPPIB proposal today before the offer closes at 5pm.
"What a mess we have got ourselves into," Mr Banks said. "The Canadians, in my view, respectfully bring good will but nothing more. They don't bring the kind of influence to make this a well run international airport."
The Mayor also criticised the airport board.
"They have not covered themselves in glory. This has been handled as badly as any transaction in the history of New Zealand.
"The board has not fought this as they should, with the contain, drive, design to put the architecture around this deal.
"It's almost a cowboy scenario. I'm terribly disappointed at where this is today."
In response to CPPIB's offer to restrict voting its rights to 24.9 per cent, Mr Banks said: "In my view it is smoke and mirrors but it does appear to have quite an influence."
The offer had been made in an effort to appease the Government's concern about foreign control.
The council meeting, at Auckland's Town Hall, was due to be held behind closed doors, before the council agreed to allow the public in. But in confidential matters before the airport vote, veteran protester Penny Bright was arrested for trespass after refusing to leave the council chamber.
"We've all got shares in the airport - it's publicly owned," she said as she was being dragged by two burly policemen out of the chambers and down a flight of stairs to a waiting patrol car.
"It's outrageous that they are choosing to behave in this manner by keeping things confidential."
Ms Bright has been evicted from council meetings more than a dozen times, and arrested over 15 times.
"The town hall is the most public of all public halls. This council is violating my democratic rights as a citizen.
"Am I abusing anybody? Am I causing any damage to property? You have disrupted your own meeting by refusing the public to watch."
A policeman quipped that the district court was the proper forum for her to discuss her concerns.
Former Auckland mayoral candidate and public watchdog Lisa Prager was also there.
"Penny is standing up for her democratic rights, to keep things out of confidentiality."
