Regulation jitters spook overseas Chorus investors

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

Overseas investors are jettisoning Chorus shares over government regulation jitters.

Craigs Investment Partners head of institutional equities Geoff Zame says in today's print edition of The National Business Review offshore shareholders accounted for the majority sold after this week's Commerce Commission pricing draft decision announcement.

"It doesn't reflect well on New Zealand's capital markets."

Chorus shares (NZX: CNU) have recovered in recent days, but still sit below their debut value of $2.94 when it was spun out from Telecom last November.

Meanwhile, business editor Duncan Bridgeman details how a fraud inquiry involving the former shareholders of milk processor NZ Dairies, and involving members of Russia's elite, could prove embarrassing to the Overseas Investment Office.

Elsewhere in the National Business Review print edition, columnist Matthew Hooton argues John Key is toast unless Winston Peters wins back some left-leaning voters and supports National.


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7142 -0.0098 -1.35%
AUD 0.9368 0.0003 0.03%
EUR 0.6547 -0.0099 -1.49%
GBP 0.4672 -0.0044 -0.93%
HKD 5.5371 -0.0789 -1.40%
JPY 88.7270 -0.8530 -0.95%

Commods

Commodity Price Change Time
Gold Index 1185.6 0.900 2015-05-27T00:
Oil Brent 62.7 -1.190 2015-05-27T00:
Oil Nymex 57.6 -0.470 2015-05-27T00:
Silver Index 16.6 -0.099 2015-05-27T00:

Indices

Symbol Open High Last %
NZX 50 5757.9 5777.6 5757.9 0.34%
NASDAQ 5096.3 5106.6 5106.6 -0.26%
DAX 11716.1 11773.8 11771.1 -0.79%
DJI 18154.1 18154.1 18163.0 -0.37%
FTSE 7033.3 7049.6 7033.3 0.11%
HKSE 28162.2 28162.2 28081.2 -2.23%
NI225 20590.3 20655.3 20472.6 0.39%