August 4th, 2007
VSNL Retail Internet Business may be transferred to subsidiary
In order to simplify the holding structure and allow for possible unlocking of future value, VSNL is making plans to transfer its Retail Internet business to a subsidiary. VSNL had acquired Direct Internet Ltd (DIL) and its fully-owned subsidiary Primus Telecommunications India in the past - and renamed it as VISL (VSNL Internet Services Limited). There is a plan now to merge the two - VISL and DIL, and also to transfer the retail business to VISL.
(Source: Economic Times)
— Vishal L Filed under: Mergers & Acquisitions
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