Australia’s premier telecom company Telstra has strengthened its presence in the Asia-Pacific by establishing three joint venture companies with Hong Kong’s Pacific Century CyberWorks.
The three joint companies-the Internet Protocol Backbone Company to be incorporated as REACH, the Regional Wireless Company and the Internet Data Center Company-were formalized last October but became operational last week, according to Telstra.
“These businesses offer enormous potential by giving Telstra greater access to the growth markets of Asia and across the Pacific,” said Ziggy Switkowski, Telstra’s chief executive officer, adding that “from the outset, both the Regional Wireless Company and REACH begin their independent operations with strong balance sheets and are built on solid performing business.”
REACH, which got its name because the company yearns to connect the far-flung parts of Asia and the rest of the world, is owned equally by Telstra and PCCW.
The RWC is 60 percent owned by Telstra while PCCW owns 40 percent.
“By bringing our assets together, these businesses have the scale and expertise to ensure they can compete aggressively in their respective markets,” said Alex Arena, deputy chairman of PCCW’s executive committee.
