Chorus Ltd (ASX: CNU) Share Price and News

Chorus Ltd (CNU) is New Zealand’s largest telecommunications infrastructure company, building and managing an open-access internet network and rolling out ultra-fast broadband.

An open-access network means that phone and broadband providers can access Chorus’ network to offer products and services to their customers. The company’s network consists of around 280,000 poles, 11,000 cabinets and more than 1.5 million broadband connections. Chorus is also responsible for providing the majority of New Zealand’s new fibre optic ultra-fast broadband network, a government initiative similar to Australia’s NBN.

Chorus’ history traces all the way back to the establishment of the New Zealand Post Telegraph Department in 1881. The post office was replaced by 3 state-owned enterprises in 1987, one of which was Telecom NZ. After undergoing privatisation and publicly listing in the early 1990s, Telecom separated into two distinct companies in 2011: Chorus, a wholesale operator, and Spark New Zealand Ltd (ASX: SPK), a retailer. Today, Chorus shares are dual-listed on both the ASX and NZX.