KEY POINTS:
Auckland City Council has confirmed that it won't sell its airport shares to the Canada Pension Plan Investment Board - which is seeking to buy a 40 per cent stake in the company.
The decision won't come as a surprise to the market (ACC holds a 12.75pc stake).
More crucial to the future of Auckland International Airport is a meeting scheduled for some time in early March at which councillors will decide how to vote on the issue of whether the sale should be allowed to proceed.
Airport shareholders are required to make two decisions - whether to sell their shares into the offer, and whether to vote for or against CPPIB becoming a 40 per cent shareholder.
