Indias’S VSNL Acquires Tyco

Tyco International Ltd. (www.tyco.com) agreed to sell its Tyco Global Network to Videsh Sanchar Nigam Limited (VSNL), India's leading telephone and internet services provider, for $130 million.

The sale is subject to government approval in the United States, India and other countries. Additional terms of the transaction were not disclosed.

The Tyco Global Network (TGN) is an undersea fiber optics telecommunications network. Divestiture of the TGN is part of the company's strategy to sharpen its focus on core businesses, simplify operations and improve its cost structure.

Tyco will retain the telecommunications systems supply business, which provides maintenance and undersea cable construction. With 2004 revenue of $40 billion, Tyco employs 260,000 people worldwide.

Tyco International Ltd. is a global, diversified company that provides vital products and services to customers in five business segments: Fire & Security, Electronics, Healthcare, Engineered Products & Services, and Plastics & Adhesives.