A current-perpendicular-to-the-plane (CPP) magnetoresistive (MR) read head structure has the MR read head located between first and second shields (S1, S2) on a substrate with a shunt resistor R1 connecting S1 to the substrate and a shunt resistor R2 connecting S2 to the substrate, with R1 and R2 being approximately equal. Because R1 and R2 are close enough in value there is no significant interference pickup in the low frequency region. The shunt resistors can be formed from high-resistivity metal nitrides or cermets. The spacing between the substrate and S1 may be selected to make the capacitance between S1 and the substrate approximately equal to the capacitance between S2 and the substrate to substantially reduce interference pickup in the high frequency region. Equalization conductors (EC1, EC2) may be connected to the substrate and spaced from S2 and S1, respectively, by electrically insulating material to create additional capacitances with values selected to substantially equalize the total parasitic capacitance on S2 with the total parasitic capacitance on S1.