CNU
08/09/2014 08:52
GENERAL
REL: 0852 HRS Chorus Limited (NS)
GENERAL: CNU: Court of Appeal dismisses Chorus' UBA appeal
STOCK EXCHANGE ANNOUNCEMENT
8 September 2014
Court of Appeal judgment dismisses Chorus' appeal on the initial pricing
principle set for UBA
The Court of Appeal's judgment, released today, dismissed Chorus' appeal to
overturn the High Court's judgment on the Unbundled Bitstream Access (UBA)
price set by the Commerce Commission's Initial Pricing Principle (IPP)
process.
"We're clearly disappointed by today's decision to maintain the status quo,
but it is not entirely unexpected," said Vanessa Oakley, Chorus General
Counsel.
"Today's regulatory environment is completely out of kilter with the
industry's structure and the effective delivery of the Government's policy.
We felt it necessary to appeal the High Court's decision to try to get some
further clarification on the fundamental issues around pricing UBA in New
Zealand."
Chorus intends to make a thorough analysis of the Court of Appeal's judgment.
In the meantime, it will engage constructively with the Commerce Commission
to deliver a sustainable Final Pricing Principle (FPP) outcome that truly
reflects the costs to efficiently deliver regulated broadband services in New
Zealand, while encouraging future network investment.
The Court of Appeal's media release is attached.
ENDS
For further information:
Steve Pettigrew
Communications Manager
Mobile: +64 (27) 258 6257
Email: [email protected]
Brett Jackson
Investor Relations Manager
Mobile: +64 (27) 488 7808
Email: [email protected]
End CA:00254963 For:CNU Type:GENERAL Time:2014-09-08 08:53:00
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
