New Zealand to begin sale process for Chorus' Ultra-Fast Broadband funding securities

Chorus

17/12/2025 03:10

Dec 17 (Reuters) - The New Zealand government will begin a sale process for securities it holds in Chorus Ltd CNU.NZ, the telecommunications company said on Wednesday.

The securities have a total face value of NZ$1.16 billion  ($670.48 million), representing the remaining balance of funding provided by the government for the Ultra-Fast Broadband (UFB) rollout, after Chorus repaid NZ$170 million earlier this year, the company said.

($1 = 1.7301 New Zealand dollars)

 (Reporting by Roshan Thomas in Bengaluru; Editing by Rashmi Aich)

 ((Roshan.Thomas@thomsonreuters.com;))