Chorus cost clamp-down gives analyst cheer, stock upgraded to ‘buy’

Tue, 25 Feb 2014

By Paul McBeth Feb. 26 (BusinessDesk) - Measures by telecommunications network operator Chorus to achieve $400 million in savings over the next six years to mitigate the impact of looming regulated price cuts has been welcomed by one analyst, who has upgraded the stock to a ‘buy’. Chorus this week announced plans to scale back re-investment in the copper lines, introduce new unregulated revenue streams, and operational cost cutting which will likely include job losses as a means to limit the impact of Commerce Commission-enforced price cuts...

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