GLOBAL ONE, C&W OPT OUT OF VSNL HUB JV RACE

Article Abstract:

Global One and Cable & Wireless (C&W) have decided against participating in the joint venture with Videsh Sanchar Nigam Ltd (VSNL) for VSNL's regional hub project. Global One is a consortium formed by Sprint, France Telecom and Deutsche Telecom. C&W and Global One have opted out of the project since it is not lucrative because traffic will have to be routed through the Department of Telecommunications. The project involves setting up a sub-continental hub and terrestrial links for routing international telecom traffic from neighbouring countries through India. British Telecom has also submitted a proposal to VSNL for the project. (vv)

Comment:

Will not be joined by Cable & Wireless and Global One in joint venture for regional hub project

Joint ventures, Global One, Cable & Wireless PLC

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LOCKHEED, VSNL, ESSAR HOP ONTO CHANDRA'S ASC

Article Abstract:

Lockheed Martin (LM) of USA, the Videsh Sanchar Nigam Ltd (VSNL) and Essar of Mumbai have agreed to become equity partners in Afro-Asian Satellite Company (ASC), promoted by Subhash Chandra. ASC is to have an equity of about $300 million, of which the foreign element is to be $124 million. LM is expected to invest $50 million, while Subhash is to bring in the rest of the foreign equity. VSNL is to invest the same amount as Subhash, while Essar is to invest $50 million. ASC plans to enter the fixed and mobile satellite systems business. (khr)

Comment:

Agrees with Lockheed Martin to become equity partners in Afro-Asian Satellite

Asset sales & divestitures, Acquisitions & mergers, Foreign operations, Satellite Communications, Satellite Telecommunications, Aircraft, Aircraft Manufacturing, Lockheed Martin Corp., Afro-Asian Satellite Co.

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VSNL READY TO CUT TAR BY 10% ONLY

Article Abstract:

The Videsh Sanchar Nigam Ltd (VSNL) has told AT&T and MCI, telecom carriers of the US, that it can only reduce 10 percent of the international telecom accounting rate (TAR). It has said that it can reduce TAR to $1.27-1.30 per minute from $1.425 per minute at present. AT&T and MCI cater to almost 90 percent of the call traffic between India and the US. The Federal Communications Commission of the US had been asking VSNL to reduce the TAR rates. (khr)

Comment:

Tells AT&T& MCI that it can only reduce 10% of international telecom accounting rate

Commodity & service prices

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