News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Advts:
Classifieds |
Employment |
Obituary |
Business
VSNL to get Rs. 786 crores
MUMBAI,
AUG. 17.
Internet gateway and service provider Videsh Sanchar Nigam Ltd (VSNL) is likely to receive around Rs. 786 crores ($169 million) from the sale of its 5.42 per cent stake in U.S. satellite company, Intelsat Ltd. The sale would result in VSNL receiving capital gains of over Rs. 530 crores, VSNL sources told PTI here today.
The satellite company is being paid $18.75 per share and the Tata company holds around nine million shares in Intelsat, they said.The sale of Intelsat is expected to be completed by December-end, they added.
The Bermuda-based satellite company is being acquired by a group of private investors for $5 billion in cash and assumption of debt. However, VSNL sources said that they were yet to receive an official communication regarding the sale of Intelsat.
VSNL was a founder member of Intelsat, a consortium formed in 1964 that owns and operates satellite communication systems.
The consortium was later privatised on July 18, 2001, and VSNL was allotted a shareholding of about 5.42 per cent. — PTI
Printer friendly
page
Send this article to Friends by
E-Mail
Business
News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Advts:
Classifieds |
Employment |
Obituary |
Updates:
Breaking News |
|
