VSNL to acquire teleglobe

Tue Jul 26 02:05:00 UTC 2005

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 (ops.lists at gmail.com)

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.