VSNL International Canada

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VSNL International Canada (formerly called Teleglobe - TSX: TGO) NASDAQ: TLGB is an international telco carrier. Part of their recent work has involved the updating of the CANTAT transatlantic cable system that connects the United Kingdom and Newfoundland under the Atlantic Ocean. The latest version of CANTAT, CANTAT-3, has a capacity of 5 Gbit/s in each direction across the Atlantic.

1 History
2 VSNL Today
3 See also
4 External links

[edit] History

The company was once a Canadian federal crown corporation in 1950 called Canadian Overseas Telecommunications Corporation (COTC). In 1975 the COTC was renamed Teleglobe Canada. After the 1984 election, Prime Minister Brian Mulroney began the process of privatizing crown corporations and Teleglobe Canada was one of the target assets.

It was finally sold to a small telecommunications equipment maker Memotec Data Incorporated of Montreal in 1987 and Teleglobe Canada became a unit within their new owners. In 1992, Memotec changed their own name as Teleglobe Canada Incorporated.

In 2000 Teleglobe Inc. was acquired by Bell Canada Enterprises or (BCE), which had already owned 23%. In 2002, BCE terminated its relationship with Teleglobe. BCE is now defending several litigations arising out of its abandonment of the Teleglobe business.

It was then sold to two American buyers, New York City based Cerberus Capital LLP and Philadelphia based Ten-X Capital Partners LLC. Renamed again as Teleglobe International Holdings Limited with incorporation in Bermuda and corporate office in Virginia.

In 2005, it was bought by the Indian industrial giant Tata Group.

During the life as a crown corporation and as part of Memotec Data, Teleglobe still maintained operations in Canada. Earth stations were located across Canada:

Toronto, Ontario - Eglinton Avenue and Pharmacy Avenue (site owned by Bell); Milner Avenue and Morningside Avenue
Montreal, Quebec
Corner Brook, Newfoundland
Port Alberni, British Columbia

Head office was in Montreal and last located at Techno Park.

After the American buyout, the head office was in Reston, Virginia.

[edit] VSNL Today

Today, Teleglobe is no longer a Canadian company and now based in Hamilton, Bermuda for tax purposes. The Canadian operation consists of offices in Montreal and Toronto (2 locations). In February 2006, the company was renamed to VSNL International Canada, a unit of Singapore based VSNL International.

Having lost the monopoly as a long distant carrier in 1997, Teleglobe is a diversified international telecommunications services with focus in voice, data and IP, and mobile signaling services.