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Reach Limited

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Reach Limited
Company typeJoint venture
IndustryTelecommunications
Founded2001
HeadquartersHong KongSAR,China
Area served
Worldwide
ProductsSubmarine cable operator
Owner
Telstra(50%)
Hong Kong Telecom(50%)
Number of employees
300
SubsidiariesReach Networks Hong Kong[1]
Websitewww.reachnetworks.com.hk

Reach Limitedis a Bermuda-incorporated holding company. It is a joint venture ofTelstraandHong Kong Telecom.Reach, headquartered inHong Kong,has interests in more than 40 submarine cables (includingAJC,APCN2,CUCN,Japan–US,RNAL,SEA-ME-WE 3) and international satellite systems, mainly servicing the Asia Pacific area. Reach has operating licenses and landing rights in most major markets including Hong Kong, Japan, Korea, Taiwan, Singapore, Australia, North America and Europe.

History

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Reach was established as a joint venture betweenTelstraandPCCWin 2001.[2][3]Telstra and PCCW injected their international assets, including subsea cables, gateways and satellite capacity into Reach. These assets were supplemented later the same year by the acquisition ofLevel 3 Communications' Asian assets. After financial difficulties, its shareholders negotiated a debt settlement in June 2004,[4]and it is now financially stable.[5]Reach was restructured,[6]and in 2005 announced that nearly all future expansion would be used for Telstra and PCCW requirements, though it would continue to service its other customers.

In 2011, PCCW transferred the 50% stake of Reach to its subsidiaryHong Kong Telecom(HKT).[7]: 151 [non-primary source needed]

In January 2011, Reach soldFLAG North Asia Loop SystemtoPCCW Global(Singapore),[7]: V-8 a subsidiary of HKT.

Network

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The company operates 364,000 km (226,000 mi) of network cables connecting 240 countries and territories.[8]

Working with FBI

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Telstra was compelled to strike a 2001 deal with theFBIand theUS Department of Justiceto give them surveillance access to the undersea cables owned by its subsidiary Reach, a newdocumentreleased online and provided to Crikey reveals.[9][10][11]

References

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  1. ^"Continuing connected transactions"(PDF).hkexnews.hk.Retrieved17 September2023.
  2. ^"Telstra and PCCW Launch Joint Ventures"(PDF)(Press release). Reach. 7 February 2001.Retrieved18 March2018.
  3. ^"Telstra, PCCW reach into Singapore market".Computer World.IDG Communications. 10 July 2001.Retrieved18 March2018.
  4. ^"Archived copy"(PDF).Archived fromthe original(PDF)on 2007-08-30.Retrieved2008-01-26.{{cite web}}:CS1 maint: archived copy as title (link)
  5. ^"PCCW, Telstra settle Reach debt".South China Morning Post.Retrieved2018-03-18.
  6. ^"PCCW, Telstra restructure Reach".South China Morning Post.Retrieved2018-03-18.
  7. ^abGlobal Offering(PDF)(prospectus). HKT Limited c/o HKT Trust. 16 November 2011.Retrieved5 April2020– via Hong Kong Exchanges and Clearing website.Subsequent to 30 June 2011, an interest in Reach Ltd. was transferred to the Group as part of the Pre-IPO Restructuring. Upon completion of the Pre-IPO Restructuring, Reach Ltd. became a jointly controlled company of the Trust Group.
  8. ^"REACH: About REACH: Overview".reach.com.
  9. ^"Telstra PCCW Reach deal with FBI and Department of Justice surveillance access to cables - Crikey".crikey.com.au.12 July 2013.
  10. ^"Archived copy"(PDF).media.crikey.com.au.Archived fromthe original(PDF)on 30 May 2014.Retrieved1 August2022.{{cite web}}:CS1 maint: archived copy as title (link)
  11. ^"Why US spies wanted to tap Reach, PCCW-Telstra cable joint venture".South China Morning Post.Retrieved2018-03-18.
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