Undersea cable purchase completed

Videsh Sanchar Nigam Ltd (VSNL) India's leading provider of international telecommunications and internet services, today announced that it has completed the acquisition of the Tyco Global Network (TGN), a state-of-the-art undersea cable network that spans 60,000 kms and the continents of North America, Europe and Asia.

With the acquisition of TGN, VSNL is now one of the world's largest providers of submarine cable bandwidth. VSNL acquired the network for US$130 million.

"This acquisition is another positive step in our ongoing drive to offer global connectivity and efficient communications solutions for our customers," said Mr N Srinath, head of operations of VSNL.

VSNL is part of the US$17 billion Tata Group, which last year listed Tata Consultancy Services (TCS) on the Bombay Stock Exchange. TCS is Asia's largest software service provider and system integrator.

The agreement culminates a nearly eight-month process that included approval from regulatory bodies in the United States and other countries.