In a significant
decision, the Board of VSNL today has approved a proposal to change the name of
the company to Tata Communications Limited. The new name and identity will help
the company leverage the immense brand equity associated with the Tata Group and
the tremendous global recognition that the Group has received in recent years.
in the company''s name is a major step in our commitment to customers, partners
and stakeholders," said N Srinath, managing director and CEO, VSNL. "Tata
Communications reiterates a focus on the global communications business where
we are a major player; at the same time, it reflects our strong heritage and leadership
position in India."
the l;ast five years after the Tata Group assumed management control of VSNL,
it has entered new businesses, geographical areas and customer segments, with
over $1 billion in investments. VSNL has also undergone a major re-engineering
of its customer-facing processes to focus on flexibility and responsiveness.
has been among the most successful of post privatisation performance of a former
central government owned entity. Its growth in the last five years has been aided
by several acquisitions, both in India and overseas.
2006 it was voted the ''best wholesale service provider'' at the world communications
the TGN and Teleglobe acquisitions, the company gained ownership of an advanced
global submarine cable backbone and an IP network. The company has continued its
investments in building out its next-generation network, with two new submarine
cables and a global MPLS and Ethernet network. VSNL is also the world''s largest
wholesale international voice carrier.
amongst the Top 100 Emerging Global Challengers by the Boston Consulting Group,
VSNL is one of the world''s largest providers of wholesale international voice
services and operates one of the largest global submarine cable networks. VSNL''s
customer base includes 1,500 carriers, 450 mobile operators, 10,000 enterprises,
500,000 broadband and Internet subscribers and 450 Wi-Fi public hotspots.
global transmission network of over 200,000 route kilometers 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, hosting, mobile signaling
and other IP services.
has offices in over 35 countries including the United States, Canada, the United
Kingdom, South Africa, Singapore, Hong Kong, Sri Lanka and India.
Sanchar Nigam Limited is listed on the Bombay Stock Exchange and the National
Stock Exchange of India, and its American Depositary Receipts (ADRs) are listed
on the New York Stock Exchange (NYSE: VSL).
change in name is subject to obtaining required statutory approvals including
that of the company''s shareholders. The brand change will be unveiled globally
through an integrated brand campaign.
also announced its financial results for the second quarter of 2007-08. The company
reported a total stand-alone income of Rs2,025 crore for the half year ended 30
September 2007 against Rs1,956 crore for the half year ended 30 September 2006.
Net profits on a standalone basis for the half-year ended 30 September 2007 were
Rs166 crore against Rs195 crore for the half year ended 30 September 2006.