Telstra reaffirms commitment to HK

12 Dec 2005

Telstra has been talking up its recent decision to merge its Hong Kong wireless arm CSL with rival New World Mobility. According to the Aussie telco, the merged company will have a combined market share of 34% and will generate cost savings of at least AUD400 million over ten years. The two companies had combined sales of HKD6 billion as of June 2005, with EBITDA was HKD1.6 billion, Once the merger is completed Telstra will own 76.4% of the combined business, which will go by the name of CSL New World Mobility. Both Telstra and New World Mobility will retain the right to call for an IPO of the company in 2009.

Hong Kong