PCCW Announces Completion of Reach Joint-Venture Alignment
HONG KONG, March 1, 2011
PCCW announces that the restructuring of Reach Ltd, as set forth in its January 25, 2011 announcement, has been completed. Reach is a 50/50 joint venture between PCCW and Telstra Corporation Ltd.
The restructuring has resulted in a clear division of the majority of Reach’s operations to more closely align with the business objectives of Reach’s shareholders as well as to more efficiently and effectively serve their respective customers.
The restructuring does not affect the Company’s 2010 final results.
PCCW Global, a subsidiary of PCCW, will benefit from the restructuring of Reach through increased efficiencies which are expected to contribute towards an enhanced competitive position in the market for international connectivity services. The restructure will include direct ownership of fibers on the RNAL system, better access and more Points of Presence for transmission, and additional teleport and satellite coverage for a variety of applications. The restructure will add capabilities to PCCW Global’s extensive global voice network and IPv6-enabled data network.
Mr. Frederick Chui, PCCW Global’s Senior Vice President of Global Marketing and Sales, said, “This is a positive restructure and our team is working hard to embrace the additional network service capabilities, enhancements and capacity. The expansion reinforces our commitment to customers by offering a large suite of services globally, while further leveraging these new assets to strengthen our existing global voice, transmission, Ethernet, IP/MPLS, satellite and other network services. Both our carrier and enterprise relationships will certainly benefit from the enhanced network coverage and service quality.”
About PCCW Limited
PCCW Limited (SEHK:0008) is the holding company of HKT Group Holdings Limited (HKT), Hong Kong’s premier telecommunications provider and a world-class player in Information and Communications Technologies. PCCW also holds a majority interest in Pacific Century Premium Developments Limited, and overseas investments including the wholly-owned UK Broadband Limited.
As the provider of Hong Kong’s first quadruple-play experience, PCCW/HKT offers a range of innovative media content and services across four platforms – fixed-line, broadband Internet access, TV and mobile. In addition, the Group meets the sophisticated needs of the local and international business community, while supporting network operators with cutting-edge technical services and handling large-scale IT outsourcing projects for public and private sector organizations. To learn more about PCCW and HKT, please visit www.pccw.com.
About PCCW Global
PCCW Global is an operating division of HKT Group Holdings Limited (HKT), which is a wholly-owned subsidiary of PCCW Limited and holds the PCCW Group’s telecoms services, media and IT solutions businesses. PCCW/HKT is Hong Kong’s premier telecommunications provider and a world-class player in Information & Communications Technologies.
With centers in Hong Kong, Herndon, Virginia in the US, London in the UK, and Dubai in the United Arab Emirates, plus teams covering the Middle East, Africa, Europe, Asia and the Americas, PCCW Global serves the voice and data needs of multinational enterprises, as well as the operational requirements of service providers. Covering more than 1,500 cities and 110 countries, the PCCW Global network supports a portfolio of integrated global communications solutions which include IP solutions, transmission solutions including fiber and satellite, managed services and solutions, and voice services. To learn more about PCCW Global, please visit www.pccwglobal.com.
For more information, please contact:
Tel: +852 2883 8747