Overview

• The government has asked National Infrastructure Funding and Financing to assess a potential sale of the securities that funded Chorus’s ultra-fast broadband rollout.
• NIFFCo holds a 61% position in Chorus on the Crown’s behalf and will evaluate feasibility of any divestment.
• Chorus said it will monitor the process and does not expect major changes to the securities’ terms if ownership shifts.
• No buyer, timetable, or transaction decision has been announced, with the process described as exploratory.
• Media reports estimate the Crown’s Chorus investment could exceed NZ$1.2 billion, and the UFB project was completed in 2022 with a mix of debt and equity instruments.