Ownership Structure of Southern Cross Cables

The Southern Cross NEXT ("SX NEXT") and Southern Cross Cable Network (SCCN) are two transpacific submarine cable systems connecting New Zealand, Austrlia to the USA, with branches to islands and countries in the South Pacfic Ocean. Southern Cross Cables Limited (SCCL, a Bermuda private limited company) and its sister company Pacific Carriage Limited Inc (PCLI, a Delaware corporation) are the joint owners of the SX NEXT and the SCCN cable systems.

Southern Cross Cables Limited (SCCL) was owned by Spark NZ (50%), Singtel-Optus (40%) and Verizon Business (10%). In December 2018, Telstra acquired a 25% stake in SCCN and substantial capacity on both the existing network and the new Southern Cross NEXT subsea cable. As a result, SCCL is owned by Spark NZ (38.12%), Singtel EInvestments (30.49%), Telstra (25%) and Verizon Business (6.4%). There is similar ownership for Pacific Carriage Limited Inc, with Singtel's Optus Networks Pty Ltd replacing Singtel EInvestments.