VSNL sees profits from Teleglobe

By agencies   |   Tuesday, 14 February 2006, 08:00 Hrs
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MUMBAI: Telecom service provider Videsh Sanchar Nigam Ltd said on Tuesday its annual revenues could jump by 200 percent in the year ending in March 2007 following its acquisition of Teleglobe.

A former state-run international telecom monopoly now run by Tata conglomerate, VSNL had said the deal would give it network access in 240 countries and territories and interests or capacity in more than 80 subsea and terrestrial cables.

"We are now a key player in the international wholesale market, supporting more than 1,400 customers," N Srinath, Videsh Sanchar's executive director, said in a statement.

In July, when it agreed to buy telecoms network services firm Teleglobe International Holdings Ltd for $239 million, VSNL officials had said the acquisition would catapult it to top three in international wholesale voice telecoms, after AT&T and MCI.

"Our decision to pursue the Teleglobe acquisition was based on several key areas of synergy, including complementary global infrastructure and product offerings," Srinath said.

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