Chorus shares fall as UFB costs grow, in talks with Crown Fibre Holdings

Sun, 24 Feb 2013

By Paul McBeth Feb. 25 (BusinessDesk) - Shares in Chorus dropped 2 percent after the telecommunications network operator spun out of Telecom signalled the cost of building a nationwide ultrafast broadband network has increased by some $300 million. The Wellington-based company expects the total UFB build to be between $1.7 billion and $1.9 billion, from a previous range of $1.4 billion and $1.6 billion. It flagged capital expenditure of $640 million to $690 million this financial year from previous guidance of $560 million to $610 million. T...

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