KEY POINTS:
Lines company Vector is understood to have invited three parties to do due diligence on its Wellington electricity network.
Invitations included Hong Kong's Cheung Kong Infrastructure and Hastings Funds Management in partnership with Westpac.
Final bids were expected by mid-April, with the identity of the third party uncertain, though understood to not be a New Zealand company, The Dominion Post reported today.
Vector announced last August it was considering selling its Wellington network, for which it was understood to want about $1 billion, though sources close to some of the interested parties have said that was unrealistic.
A source said final bids were likely to be in the $700 million to $800m range.
- NZPA
