Chorus shares at record low on heightened anxiety over price cut impact, govt response

Wed, 06 Nov 2013

By Jonathan Underhill Nov. 7 (BusinessDesk) – Chorus shares sank to a record low as investors are left to speculate on how the government will respond to regulated price cuts the network company says will undermine its finances and its role as builder of the national ultra-fast broadband network. Chorus fell as much as 9.7 percent to $2.09, or 29 percent below its listing price of $2.94 in November 2011, when it was spun off from Telecom. It recently traded at $2.16. About $186 million has been shaved off the company’s market value since the...

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