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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (256)	2/7/2001 9:25:54 AM
From: ms.smartest.person	Read Replies (1) of 2248

Telstra formalises PCCW venture AAP 07 February 2001 TELSTRA and Pacific Century Cyberworks have formally established three joint venture companies in Asia. Telstra announced tonight its Internet Protocol backbone company would be incorporated as Reach Ltd. Former chief operating officer of Malaysia's Maxis Communications, Alistair Grieve, has been appointed chief executive officer of Reach. Telstra group managing director infrastructure services & wholesale Gerry Moriarty has been appoined chairman. The Telstra-PCCW mobile venture, named the Regional Wireless Company (RWC), will be led by CSL chief executive officer Hubert Ng. Former general manager customer management Telstra OnAir Mike Robey has been appointed chief operating officer of RWC. Telstra OnAir group managing director Dick Simpson was appointed RWC chairman. "Since the full terms of the transaction were agreed last October, all key peformance parameters have improved and the business has performed extremely well," Telstra said. "CSL has the highest postpaid ARPU (average revenue per user) of any carrier in Hong Kong and a growing customer base with December providing the highest monthly subscriber base since the introduction of Mobile Number Portability." PCCW deputy chairman Alex Arena will take up a two-year appointment as chairman of the International Data Centre company. Telstra also today completed the purchase of a US$750 million convertible note in PCCW. Telstra shares closed 9c lower at $6.88 today. theaustralianit.com.au

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