TELSTRA BOSS LAMBASTS GLOBAL NEGATIVITY AGAINST TELCO STOCKS.

SYDNEY, Sept 3 Asia Pulse - Ziggy Switkowski, the Telstra (ASX: TLS) chief executive, has blamed his company's slashed shareprice on global negativity towards telecommunications stocks.

Mr Switkowski said investors, who drove the company's shares to three-year lows Friday, were unappreciative of the company's record corporate profit.

And he all but rejected calls to send a warning letter to shareholders about the implications on Telstra of a change of federal government.

Last week Telstra booked a 10.4 per cent lift in net profit, despite recording a large loss from its ventures with Hong Kong's Pacific Century Cyberworks Ltd which he today said would be written-down no further.

Mr Switkowski said Telstra's share plunge was in-line with telcos on Wall Street, and not a personal grudge against him.

"The sector clearly is still suffering from negative sentiment and Telstra's operational results appear not yet to be sort of sufficiently appreciated by the market and I think the market will, in time, catch up with our results which are very strong," Mr Switkowski told the Nine Network.

"Certainly I feel a high degree of accountability and responsibility for reversing that shareprice trend, but I can't influence global sentiment."