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.
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