Chorus shares plumb new lows as uncertainty reigns over network operator’s future

Thu, 07 Nov 2013

By Paul McBeth Nov. 8 (BusinessDesk) - Shares of Wellington-based Chorus plumbed a new low in early trading as investors aired their disappointment over the government’s response to regulated price cuts of the network operator’s copper network. The stock fell as much as 12 percent to $1.85, and recently traded at $1.94, after Communications Minister Amy Adams yesterday announced plans for an independent appraisal of Chorus’s books. Since the Commerce Commission decision on Tuesday, the share price has plunged 26 percent, wiping $273.5 milli...

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