Australian fund manager L1 Capital cleared to buy up to 15% of Chorus

Paul McBeth
Sun, 10 Dec 2017

By Paul McBeth Dec. 11 (BusinessDesk) - Australian fund manager L1 Capital has been granted approval to boost its Chorus stake to as much as 15 percent by the Crown.  The Melbourne-based company held a 9.6 percent stake in the local telecommunications network operator as at Oct. 2 and was today granted government approval to rise above the 10 percent Kiwi share restriction, which was carried over to Chorus after its demerger from Telecom Corp, now Spark New Zealand, in 2011.  The Kiwi share obligation was imposed on Telecom when it was...

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