Reach Limited
{{more citations needed|date=March 2018}}
{{Infobox company
| name = Reach Limited
| logo = Logo of Reach Limited.png
| logo_size = 130px
| former_name =
| type = Joint venture
| foundation = 2001
| industry = Telecommunications
| location = Hong Kong SAR, China
| area_served = Worldwide
| key_people =
| products = Submarine cable operator
| revenue =
| net_income =
| assets =
| owner = {{aligned table|Telstra|(50%)|Hong Kong Telecom|(50%)}}
| equity =
| subsid = Reach Networks Hong Kong{{cite web|website=hkexnews.hk|access-date=17 September 2023
|url=https://www1.hkexnews.hk/listedco/listconews/sehk/2016/1223/ltn20161223193.pdf|title=Continuing connected transactions}}
| num_employees = 300
| homepage = {{Url|www.reachnetworks.com.hk}}
}}
Reach Limited is a Bermuda-incorporated holding company. It is a joint venture of Telstra and Hong Kong Telecom. Reach, headquartered in Hong Kong, has interests in more than 40 submarine cables (including AJC, 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
Reach was established as a joint venture between Telstra and PCCW in 2001.{{cite press release|url=http://www.reach.com/news/in_the_news_archive/20010207_Telstra_and_PCCW_Join_Forces_In_Pan.pdf|title=Telstra and PCCW Launch Joint Ventures|date=7 February 2001|access-date=18 March 2018|publisher=Reach}}{{cite news|url=https://www.computerworld.com.au/article/42988/telstra_pccw_reach_into_singapore_market/|title=Telstra, PCCW reach into Singapore market|date=10 July 2001|access-date=18 March 2018|work=Computer World|publisher=IDG Communications}} 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 of Level 3 Communications' Asian assets. After financial difficulties, its shareholders negotiated a debt settlement in June 2004,{{Cite web |url=http://www.reach.com/news/news_archive/Reach_release_180604.pdf |title=Archived copy |access-date=2008-01-26 |archive-date=2007-08-30 |archive-url=https://web.archive.org/web/20070830023037/http://reach.com/news/news_archive/REACH_release_180604.pdf |url-status=dead }} and it is now financially stable.{{Cite news|url=http://www.scmp.com/article/459967/pccw-telstra-settle-reach-debt|title=PCCW, Telstra settle Reach debt|work=South China Morning Post|access-date=2018-03-18|language=en}} Reach was restructured,{{Cite news|url=http://www.scmp.com/article/739626/pccw-telstra-restructure-reach|title=PCCW, Telstra restructure Reach|work=South China Morning Post|access-date=2018-03-18|language=en}} 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 subsidiary Hong Kong Telecom (HKT).{{cite book|type=prospectus |url=https://www1.hkexnews.hk/listedco/listconews/sehk/2011/1116/ltn20111116015.pdf|title=Global Offering|date=16 November 2011|access-date=5 April 2020|publisher=HKT Limited c/o HKT Trust|via=Hong Kong Exchanges and Clearing website|quote=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.}}{{rp|151}}{{primary source inline|date=April 2020}}
In January 2011, Reach sold FLAG North Asia Loop System to PCCW Global (Singapore),{{rp|V-8}} a subsidiary of HKT.
Network
The company operates {{convert|364000|km|mi|abbr=on|-3}} of network cables connecting 240 countries and territories.{{cite web|url=http://www.reach.com/about/overview.php|title=REACH : About REACH : Overview|work=reach.com}}
Working with FBI
Telstra was compelled to strike a 2001 deal with the FBI and the US Department of Justice to give them surveillance access to the undersea cables owned by its subsidiary Reach, a new document released online and provided to Crikey reveals.{{cite web|url=http://www.crikey.com.au/2013/07/12/telstras-deal-with-the-devil-fbi-access-to-its-undersea-cables/|title=Telstra PCCW Reach deal with FBI and Department of Justice surveillance access to cables - Crikey|work=crikey.com.au|date=12 July 2013 }}{{cite web |url=http://media.crikey.com.au/wp-content/uploads/2013/07/US-NSAs-Telstra.pdf |title=Archived copy |website=media.crikey.com.au |access-date=1 August 2022 |archive-url=https://web.archive.org/web/20140530031043/http://media.crikey.com.au/wp-content/uploads/2013/07/US-NSAs-Telstra.pdf |archive-date=30 May 2014 |url-status=dead}}{{Cite news|url=http://www.scmp.com/news/hong-kong/article/1282142/why-us-spies-wanted-tap-reach-pccw-telstra-cable-joint-venture|title=Why US spies wanted to tap Reach, PCCW-Telstra cable joint venture|work=South China Morning Post|access-date=2018-03-18|language=en}}
References
{{Reflist}}
External links
- {{official website|http://www.reachnetworks.com.hk/}}
{{PCCW}}
Category:Telecommunications companies of Hong Kong
Category:Telecommunications companies established in 2001
Category:Pacific Century Group
{{HK-company-stub}}