Chorus’ fixed line and broadband connections fall

Company News

by Jessica Amir

New Zealand’s telecommunication giant, Chorus (ASX:CNU) has advised that total fixed line connections have fallen by 20,000 with customers making the switch to fibre and other products.

It also advised broadband connections fell significantly by 2,000, also over the three months to September.

Meantime, Chorus says its seeing more customers than ever before switching to broadband on copper or fibre.

It also announced the market that the use of broadband is continuing to be driven by strong demand for video streaming.

Shares in Chorus (ASX:CNU) closed about 0.6 per cent lower to $3.51.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.