Take-Overs
Sir, —“Wide Awake” is astray in claiming that Mr Connelly's Take-over Bill would have created monopolies. The bill would have prevented them, because monopolies result from take-overs, which eliminate competition. Should overseas firms which take over New Zealand firms cease New Zealand operations, New Zealand workers would lose their jobs. These takeovers export capital from this country, yet “Wide Awake” calls its prevention socialist interference in company affairs. The advertising firm take-over is but another surrender by the Tory Government to the vested interests that back it.—Yours, etc., DISILLUSIONED NATIONALIST. January 12. 1966.
[A take-over of a New Zealand company by an overseas concern does not “export capital”; on the contrary, it amounts to an inflow of overseas capital.—Ed., “The Press.”]
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https://paperspast.natlib.govt.nz/newspapers/CHP19660113.2.107.3
Bibliographic details
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Press, Volume CV, Issue 30957, 13 January 1966, Page 10
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122Take-Overs Press, Volume CV, Issue 30957, 13 January 1966, Page 10
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