[75080] in North American Network Operators' Group
VSNL buys Tyco submarine cable network for $130m
daemon@ATHENA.MIT.EDU (Suresh Ramasubramanian)
Mon Nov 1 20:37:28 2004
Date: Tue, 02 Nov 2004 07:08:51 +0530
From: Suresh Ramasubramanian <suresh@outblaze.com>
To: nanog list <nanog@merit.edu>, sanog@sanog.org
Errors-To: owner-nanog-outgoing@merit.edu
Rather obvious sequence of events ...
* VSNL as India's former government owned monopoly telco, got exclusive
rights on the FLAG cable landing in India, and kept a tight hold on it,
only agreeing to sell at the most 10% of available capacity, at rather
rates (add to it refusing to let its downstreams - most ISPs in India,
back then, peer locally at vsnl, and so forcing all local traffic
through expensive international links).
* VSNL was privatized, taken over by the Tata Group .. still kept their
hold on FLAG's cable landing in India.
* VSNL's arch rival Reliance went one up on them and bought FLAG telecom
* So, now VSNL goes and buys Tyco - another large submarine cable provider
srs
http://www.hinduonnet.com/thehindu/holnus/001200411020354.htm
VSNL acquires Tyco for $130 mn
New Delhi, Nov. 2. (PTI): Tatas-owned Videsh Sanchar Nigam Ltd on Monday
decided to acquire Tyco Global Network, submarine cable system, for 130
million dollars.
The acquisition, which is subject to government approval in the United
States, India and other countries, would give VSNL control over a
network spanning 60,000 km and three continents.
"The agreement is a major step forward in our ongoing drive to offer our
enterprise and carrier customers seamless, end-to-end telecommunications
solutions that circle the globe," N Srinath, Director (Operations) of
VSNL, said.
"This coupled with the submarine cable we plan to launch shortly
connecting India with Singapore," he said, adding that this will give
customers a new choice in global data services.
"Furthermore, the timing of this transaction is well suited to our
international expansion plans," Srinath said.
