Videsh Sanchar Nigam Ltd (VSNL) announced on Tuesday, the completion of its acquisition of Teleglobe International Holdings Ltd, for about $239 million, comprising payment of $4.50 per share to Teleglobe shareholders and assumption of net debt. The new combined company will own and operate one of the world’s largest international mobile, data, and voice networks with coverage to more than 240 countries and territories.
VSNL International will leverage Teleglobe’s network and capabilities to further expand services with multi-technology connectivity, commercial flexibility and managed services.
“The Teleglobe acquisition is a critical step toward our vision to become a global industry leader providing customers with converged communications solutions. Our complementary networks and capabilities will further drive mobile, data and voice innovation for our enterprise customers,” said Mr N. Srinath, executive director, VSNL. With this acquisition, the company’s wholesale customers will benefit from superior network reach, and scalability from a single partner worldwide for voice, data and mobile services. The combined company will operate under the name of VSNL International. VSNL will have access to Teleglobe’s global, robust and scalable network capacity and seamless connectivity.
VSNL International will leverage Teleglobe’s network and capabilities to further expand services with multi-technology connectivity, commercial flexibility and managed services.
“The Teleglobe acquisition is a critical step toward our vision to become a global industry leader providing customers with converged communications solutions. Our complementary networks and capabilities will further drive mobile, data and voice innovation for our enterprise customers,” said Mr N. Srinath, executive director, VSNL. With this acquisition, the company’s wholesale customers will benefit from superior network reach, and scalability from a single partner worldwide for voice, data and mobile services. The combined company will operate under the name of VSNL International. VSNL will have access to Teleglobe’s global, robust and scalable network capacity and seamless connectivity.