Chorus shares jump 12 percent after Adams shunts out price review until 2015

Thu, 07 Feb 2013

By Paul McBeth Feb. 8 (BusinessDesk) - Shares in telecommunications network operator Chorus jumped 12 percent after Communications Minister Amy Adams shunted out threatened price controls until the end of 2015 in a reprieve for the taxpayer-subsidised investors in the national fibre network. The stock climbed to $3.20 in early trading on the NZX on turnover of $3.2 million from $2.86, recovering much of their decline in December when Telecommunications Commissioner Stephen Gale surprised the Beehive by flagging plans to cut the monthly regu...

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