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North American Network Operators Group Date Prev | Date Next | Date Index | Thread Index | Author Index | Historical VSNL to acquire teleglobe
They already have tyco, which has a rather decent submarine cable network. Now they've bought out Teleglobe for what looks like a song ($178 million) .. teleglobe is one of VSNL's main transit providers by the way. -- Suresh Ramasubramanian ([email protected]) http://www.businessweek.com/ap/financialnews/D8BILFRO1.htm?campaign_id=apn_asia_up&chan=gb JUL. 25 5:21 P.M. ET India's leading provider of international calls and Internet services Videsh Sanchar Nigam Ltd., or VSNL, on Monday said it has offered to buy global voice and data service provider Teleglobe International Holdings Ltd. of Canada in a deal valued at $178 million. [...] Teleglobe, headquartered in Hamilton, Bermuda, has more than 1,400 wholesale customers and carries over 13 billion minutes of voice traffic globally. [...] VSNL is part of the $17 billion Tata Group, India's largest industrial conglomerate. Earlier this month, it completed the acquisition of TGN, a 60,000-kilometer (37,280-mile) undersea cable network spanning North America, Europe and Asia. TGN was previously owned and operated by Tyco International Ltd. The Teleglobe buyout would enable VSNL to access more than 200 direct and bilateral agreements with leading voice carriers, many of which are the incumbent carriers within their countries or large international wireless service providers.
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