Business
‘It’s my life and I’m going to overrule you’: Packer insisted on Melco deal – Sydney Morning Herald
James Packer insisted on the agreement to offload a 19.9 per cent stake in Crown to Hong Kong group Melco despite being presented with a number of different options.
Michael Johnston, a Crown director and executive at Mr Packer’s private company Consolidated Press Holdings (CPH), told the inquiry on Monday he presented Mr Packer with a number of different options to sell some or all of his 46 per cent stake in Crown in May last year.
However by May 23, Mr Packer had settled on a sale to Melco, telling Mr Johnston via text message: “Mike, its my life and I’m going to overrule you”, the inquiry heard.
Mr Johnston told the inquiry he phoned Crowns then-execut…
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