Chorus Ltd

CNU: XNZE (NZL)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	NZD 6.40	Bgvxf	Mdvwywht

Chorus' Resilient Fiber Earnings to Drive Steady Dividend Growth

Brian Han

Jun 28, 2024

Business Strategy and Outlook

Chorus was demerged from Telecom New Zealand in 2011 and is the biggest fixed-line access telecommunications infrastructure (copper and fiber) entity in New Zealand. It owns and operates a national fixed-line network that includes local phone exchanges and copper and fiber cables. Chorus partnered with the government in rolling out fiber to the premises though the ultra-fast broadband, or UFB, initiative. As a near-monopoly operator, Chorus' wholesale prices are regulated by the Commerce Commission, or ComCom.

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