Reliance acquires US telecom co for Rs 1000 cr

MUMBAI: Reliance Infocomm`s wholly-owned subsidiary, Reliance Gateway has acquired US based FLAG Telecom for roughly Rs 1000 crore ($207 million), Anil Ambani, vice-chairman of Reliance Industries told media persons in Mumbai today.

FLAG owns, develops and operates advanced fibre-optic global cable systems, enabling the company to offer a growing range of value-added network services.

It employs more than 200 employees in 19 offices around the world and its global IP backbone covers the majority of the world`s population.

FLAG has over 100 customers, including the vast majority of the world`s major international carriers and is registered in Bermuda with its executive office in London.

Source: IRIS