Australian incumbent Telstra and Hong Kong-based telco PCCW have completed the restructuring of their 50/50 cable JV Reach.
The international assets have been divided between the two companies while the remaining joint assets will continue to be managed…
Australian incumbent Telstra and Hong Kong-based telco PCCW have completed the restructuring of their 50/50 cable JV Reach.
The international assets have been divided between the two companies while the remaining joint assets will continue to be managed by Reach in Hong Kong.
Back in January, when the restructuring was announced, Telstra said that the objective was to drive shareholder value and that the changes would result in accounting gains of up to A$150m (US$148m) for Telstra.
In a statement released yesterday, Telstra International’s executive director for global sales, Philip Mottram, said: “At a time when customers are increasingly demanding support for innovative delivery models, this restructure will enable us to accelerate our new product development program which comprises the build, deployment and launch of new strategic products and services that address key emerging network and service provider market opportunities.”
Frederick Chui, PCCW Global’s senior vice president of global marketing and sales, added: “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.”
