Telstra to hold 60% RWC even if shareholding changes

Ziggy Switkowski, CEO of Telstra, said no matter what happens to shareholding of RWC, Telstra will continue to hold 60% shareholding of RWC and Hubert Ng, Chief Executive Officer of CSL, will continue to help with management of the company. At present, PCCW and Telstra hold 40% and 60% RWC respectively while RWC holds businesses of CSL. In another word, once changes happen to shareholding of RWC, only holding volume of PCCW will be influenced. Ziggy Switkowski also said Telstra will focus on developing businesses in Asia in the coming five years and hopes businesses in Asia will account for 25% of the total value of the group.

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