NZ's Chorus falls after regulator delays pricing decision

WELLINGTON Wed May 21, 2014 6:06pm EDT

WELLINGTON May 22 (Reuters) - New Zealand telecommunications network operator Chorus Ltd fell 3.4 percent on Thursday after the industry regulator said it would delay a final decision on broadband pricing.

Chorus fell six cents to NZ$1.69 in early trading.

Chorus is rolling out about 75 percent of a government backed national broadband network, but the sector regulator has ruled the company must cut access prices to internet service providers by the end of the year.

The regulator was set to make a final price ruling in December, but says it will only make a draft ruling then and delay its final decision until April next year.

Chorus said the decision was disapointing.

It has previously said the price cuts might cost it as much as NZ$1 billion over six years.

(Gyles Beckford)

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