Reach not listed within one year

Reach, the joint-venture of Pacific Century CyberWorks(0008) and Telstra will not be listed within one year due to unfavorable market situation, says Alistair Grieve, CEO of Reach. Grieve and Hubert Ng, CEO of CSL, will state the newest development of CSL and Reach, the two JVs of PCCW and Telstra. At present, PCCW and Telstra hold 40% and 60% stake in CSL respectively and Reach is 50% held by PCCW and 50% by Telstra.

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