NZSE strikes out Lion complaint

By Felicity Anderson, Nzoom.com Business News Editor

Thursday 18th October 2001

Lion Nathan's complaint against its bitter rival for control of New Zealand's largest wine company, the Montana Group, has been struck out by the New Zealand Stock Exchange standing committee.

Describing its decision as a "firm view" the committee says it has given its decision to save the companies time and money in preparing for the scheduled full hearing on October 30 - November 2.

The committee says it will give the reasons for its decision in the near future.

Montana applied for the complaint against its now owner Allied Domecq to be struck out.

Allied Domecq was able to secure a substantial foothold in its fight to gain control of the wine company through the purchase of a nearly 20% stake held by Montana Chairman Peter Masfen.

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