SAN FRANCISCO-Australian telecommunications provider Telstra Corp. Ltd. welcomed the Australian parliament’s decision to pass the Telstra Sale Bill and the government’s announcement it will sell down an additional 16.6 percent of the company.
Telstra’s Chief Executive Officer Dr. Ziggy Switkowski said the board of directors and senior management continue to support the eventual full privatization of the company to ensure Telstra is on even footing with its competitors, and to clarify the government’s role as regulator and owner.
“We remain concerned that partial ownership could disadvantage us compared to other players and may leave questions about the government’s dual role as regulator and owner unresolved, ” said Switkowski. “However, we have worked successfully under the partially privatized regime and we will accommodate whatever level of ownership is decided by the government and the Australian people.”
In other news, SkyBridge L.P. and Telstra have signed an in-principle agreement giving Telstra first option to become an equity partner and SkyBridge L.P.’s regional service provider in Australasia and southeast Asia in 2002.
“SkyBridge has the potential to provide services, which are comparable to those now becoming available in metropolitan areas in terms of cost, speed and capability,” said Lindsay Yelland, group managing director, Telstra business solutions. “This would be the next evolution in satellite-based broadband services, building on the satellite telephony, data and Internet services that Telstra is about to launch in rural and remote Australia.”
SkyBridge operates 80 satellites. The final agreement is expected to conclude by the third quarter, said Telstra.
