Australia’s UniSuper joins Chorus’ 10% club

Australian superannuation fund UniSuper has become just the third entity to get government approval to own more than 10% of national telecommunications network operator Chorus. The company said the government has granted approval for UniSuper to lift its stake to as high as 20% of the company, from the 8.5% holding it last disclosed in December. Chorus shares rose 1.2% to $8.55 in late afternoon trading on the New Zealand stock exchange, and are up 23.9% over the past 12 months. When Chorus was carved out of Telecom in 2011, it t...