Chorus, a telecoms operator split off from Telecom NZ in 2011, is a regulated monopoly that owns and operates copper cables in New Zealand
Chorus, a telecoms operator split off from Telecom NZ in 2011, is a regulated monopoly that owns and operates copper cables in New Zealand. It generates revenue by leasing the copper cables to phone and broadband providers at prices determined by regulators. At a price-to-earnings ratio of just four and an implied yield of over 10%, the numbers suggest Chorus is cheap. As ever, there is more to the story. (VIEW LINK)
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