Tyco to Sell Undersea Fiber Network
Nov 1, 2004 — PEMBROKE, Bermuda, Nov. 1 -- Tyco International Ltd. announced it has agreed to sell its Tyco Global Network to Videsh Sanchar Nigam Ltd. (VSNL), the telecom unit of India's Tata group, for $130 million. The sale is subject to government approval in the US, India and other countries. Additional terms of the transaction were not disclosed. The Tyco Global Network (TGN) is a 60,000-km undersea fiber optic telecommunications network that straddles the US, Europe and Asia with terabits of bandwidth...