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Videsh Sanchar Nigam Ltd - Company Report
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Company Reports are concise reports that provide a review of the company's activities, corporate strategy and recent developments.
VSNL is a global communications company offering voice, data and value-added services to enterprises, carriers and retail consumers. The company is one of the world’s largest providers of wholesale international voice services and operates one of the largest global submarine cable networks. The company’s customer base includes approximately 1,500 global carriers, 450 mobile operators, 10,000 enterprises, 500,000 broadband and Internet subscribers and 300 Wi-Fi public hotspots. VSNL's global transmission network of over 200,000 route kilometres and its IP core with 200 points of presence, enable a range of services that include voice, private leased circuits, IP VPN, Internet access, global Ethernet, data centre, co-location, managed network, hosting, managed storage, mobile signalling and other IP services. VSNL's recent acquisitions include: a strategic stake in South Africa's second network operator, Neotel; Tyco Global Network (TGN), which operated an approximately 65,000km submarine cable network across North America, Europe and Asia; Tata Power Broadband Ltd (now known as VSNL Broadband Ltd); Teleglobe International, a provider of international voice, data and value-added services; the ISP business of Seven Star Dot Com Pvt Ltd; and, Direct Internet Ltd (DIL) and its wholly-owned subsidiary, Primus Telecommunications India Ltd (now known as VSNL Internet Services Ltd). VSNL is partially owned by subsidiaries of the Tata Group, one of India's largest business conglomerates. The Tata Group comprises 93 operating companies in seven business sectors: information systems and communications; engineering; materials; services; energy; consumer products; and, chemicals. As of March 31, 2007, Panatone Finvest Limited, in conjunction with certain other Tata companies, held approximately 50.11% of the outstanding equity of VSNL, and the Government of India held approximately 26.12%. Panatone Finvest Limited is in turn affiliated with the Tata Group and its shares are held by Tata Sons, Tata Power, Tata Steel and Tata Industries. Panatone Finvest Limited, in which the current shareholding of Tata Sons and Tata Power is 60.010% and 39.983%, respectively, with Tata Steel and Tata Industries holding the remainder equally, acquired a 45% stake in VSNL in 2002 as a result of the Government of India’s decision to sell to a strategic partner through a competitive bidding process. The remaining shares of VSNL are held by institutional investors (14.18%), retail investors (3%), and ADR holders (6.18%). VSNL's shares are traded on the Bombay Stock Exchange and its ADRs are listed on the New York Stock Exchange.
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