This time it is VSNL. VSNL, once used to be known as Videsh Sanchar Nigam Limited and was a sleepy government organisation. ( It was a lot more responsive than other government departments). It was also the place that we went to and stood in line to get our student internet account (a shell account) that showed the internet sans graphics and was sold at a discount sometime in the late 90s. The real internet account (they called it the tcp/ip) was available at a higher price. (More internet nostalgia soon). Then, the TATAs brought it over and the sleepy VSNL is now a marauding telecom company.
VSNL is going to buy Teleglobe for about a 1000 crores. Here are snips from the piece on Businessline.
...Barely a month after it announced the closure of its acquisition of Tyco Global Network for $130 million (over Rs 550 crore), Videsh Sanchar Nigam has entered into an agreement to acquire Teleglobe International Holdings Ltd for $239 million (over Rs 1,000 crore)...
...The Tyco Global Networks (TGN) buy made VSNL the biggest supplier of submarine cable connectivity in the world. Teleglobe's wholesale voice/voice-over-Internet-protocol, and Global Tier-1 IP network can be overlaid on the TGN network to provide value-added services to enterprise customers across the globe, he said.
(Teleglobe made an important acquisition in VoIP-leader ITXC Corp in May last year.)
Teleglobe has an extensive global network that reaches more than 240 countries and territories with advanced voice, data and signalling capabilities and ownership interests or capacity in more than 80 sub-sea and terrestrial cables, said a statement from VSNL.
Through Teleglobe, VSNL will be able to access more than 200 direct and bilateral agreements with leading voice carriers, many of them incumbent carriers within their countries or large international wireless service providers. In addition, VSNL also gains an international workforce...
Reliance Infocomm is another of the telcos with big aspirations . They recently acquired FLAG telecom. With VSNL making its next step, we will see what Reliance comes up with.