Chorus shares rally after vote of confidence from Milford, ACC ups stake

Thu, 12 Dec 2013

By Paul McBeth Dec. 13 (BusinessDesk) - Shares in Chorus climbed 8 percent in early trading after Milford Asset Management yesterday said the regulatory uncertainty hanging over the network operator was fully priced in, and the investment arm of the Accident Compensation Corp lifted its holding in the telecommunications company. The stock rose as high as $1.50, and recently traded at $1.48, up 11 cents from yesterday, having plunged by more than half their value over the past year as the Commerce Commission looked to force a sharper cut to i...

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