Not Quite Hitting the Chorus Line
We concede challenges facing no-moat Chorus (connections, UFB-building, execution with the cost-cut program) pale in comparison to those facing retail-facing telecoms on both sides of the Tasman. However, they are risks nevertheless and we believe not reflected in the current stock price, trading at an 8% premium to our NZD 3.90 (AUD 3.60) fair value estimate.Broadband connections at Chorus are showing signs of life. The gain of 3,000 lines in the recent March quarter to a total of 1.2 million ...
Chorus Limited (Chorus) is a telecommunications infrastructure company. The Company maintains and builds a network made up of local telephone exchanges, cabinets, and copper and fiber cables. The Company's product portfolio encompasses a range of wholesale broadband, data and voice services across a mix of regulated, contracted, and commercial products. Its products include fiber broadband, fiber premium, copper-based voice, data services over copper and copper-based broadband. Its fiber and copper connections provide access to the Chorus fixed lines network to enable connections to the Internet. Its infrastructure includes the physical storage and site-sharing rental services for the co-location of the third party or shared assets. The Company's field services include services in the field to protect, strengthen, and increase the available network.
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