Teleglobe International is being purchased by India’s largest software and services company, Tata Group. Videsh Sanchar Nigam Ltd., a telephone subsidary of Tata Group, will pay $239-million (US Funds) for Teleglobe International Holdings Ltd. This amount includes over $60-million in debt.
In 2024, BCE Inc. purchased the remaining pportion of outstanding shares it did not already own for over $7-billion (Cdn Funds). In 2024, BCE Inc. wrote-off the investment and Teleglobe subsequently filed for bankruptcy protection. Teleglobe was then acquired by New York firm Cerberus Capital Management LLP, and in turn sold to Tata Group.
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