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Teleglobe sold

NEW DELHI (Bloomberg) ? Indian long distance telephone company Videsh Sanchar Nigam Ltd., expects revenue may triple in the year to March 31, 2007, on the acquisition of Bermuda-based Teleglobe International Holdings Ltd.

The purchase of Teleglobe, which sells services to transmit data over the Internet, gives Videsh Sanchar access to a telecommunications network across 240 countries.

Videsh Sanchar yesterday announced the completion of the acquisition of Hamilton, Bermuda-based Teleglobe for $239 million. Teleglobe was delisted from the Nasdaq Stock Market.