Gale cedes ground on copper pricing, citing investment incentives; Chorus shares still tumble

Mon, 04 Nov 2013

By Paul McBeth Nov. 5 (BusinessDesk) - Telecommunications Commissioner Stephen Gale has defended his proposal to cut Chorus’s copper network pricing, saying he has ceded some ground because he doesn’t want to deter investment in fibre. Chorus shares tumbled 7.6 percent to $2.43 and earlier touched a four-month low $2.41 after the network company forecast a 21 percent earnings hit if the price cut goes ahead and the government held off a decision on whether to override the regulator. The regulator set a total unbundled bitstream monthly pri...

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