VSNL buys TPBB for Rs 2.39 bn

MUMBAI: Videsh Sanchar Nigam Ltd today said that it plans to acquire Tata Power Broadband (TPBB) Ltd, a wholly-owned unit of Tata Power Company Ltd, for Rs 2.39 billion.

TPBB has a fibre optic network in Mumbai and Pune and offers broadband services to telecom companies and bulk users of bandwidth.

VSNL, India's largest overseas telecom services provider, said it would consider a merger of the broadband subsidiary with it at a later date.