There's speculation over how much Kiwibank is paying for Gareth Morgan Investments.
The state-owned NZ Post subsidiary is buying GMI and its $1.5 billion worth of investment funds.
Business commentator Bernard Hickey doesn't think it's worth as much as some are saying.
"There's some talk this morning in the newspapers that between $30 million and $50 million has been paid for this," says Mr Hickey. "I would be surprised if it was that high and concerned if it was, frankly.
"It's Government money that's being spent. My understanding is that its closer to $15 million."
Mr Hickey say the move will make Kiwibank the sixth-argest KiwiSver fund manager.
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