Chorus

The Government announced:

The Government is exploring ways to free up capital locked in its investment in Chorus, to redirect into capital projects of more use to New Zealanders.

National Infrastructure Funding and Financing (NIFFCo) will investigate the feasibility of selling the debt and equity securities it holds in Chorus.

These debt and equity securities were purchased as the Crown’s funding contribution to the delivery of the Ultra-Fast Broadband initiative, that was completed in 2022. 

Minister of Finance Nicola Willis says that with the completion of the Ultra-Fast Broadband initiative there is no longer a policy reason for the Crown to own these securities.

Absolutely not. I’m a shareholder in Chorus, as I decided to buy some shares. But I don’t want the Government to be having capital locked up in commercial companies, instead of schools and hospitals etc.