VSNL acquires Direct Internet
Telecommunications major Videsh Sanchar Nigam Ltd on Friday said it has completed the acquisition of internet services provider Direct Internet Ltd and its wholly-owned subsidiary, Primus Telecommunications India Ltd (PTIL).
By PTI |
MUMBAI: Telecommunications major Videsh Sanchar Nigam Ltd on Friday said it has completed the acquisition of internet services provider Direct Internet Ltd and its wholly-owned subsidiary, Primus Telecommunications India Ltd (PTIL).
Last month VSNL had announced the signing of a share purchase agreement to acquire Direct Internet and its subsidiary for Rs 75 crore.
Following the completion of the acquisition, Direct Internet has become a wholly owned subsidiary and Primus Telecommunications India an indirect subsidiary of VSNL, the company informed the Bombay Stock Exchange.
Direct Internet provides Internet-based voice and data services while PTIL provides internet service to small and medium enterprises in Indian cities.
The shares of VSNL closed at Rs 372.15, down 0.94 per cent on the BSE.
Last month VSNL had announced the signing of a share purchase agreement to acquire Direct Internet and its subsidiary for Rs 75 crore.
Following the completion of the acquisition, Direct Internet has become a wholly owned subsidiary and Primus Telecommunications India an indirect subsidiary of VSNL, the company informed the Bombay Stock Exchange.
Direct Internet provides Internet-based voice and data services while PTIL provides internet service to small and medium enterprises in Indian cities.
The shares of VSNL closed at Rs 372.15, down 0.94 per cent on the BSE.
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