Bharti Airtel to acquire SinTel's 49.99 percent stake in the JV Network i2i for $55 million.(Singapore Telecommunications Ltd.)(Brief article)

Bharti Airtel will acquire Singapore Telecom's (SingTel) 49.99 percent stake in their JV Network i2i for $55 million. Commercial understanding between the two companies has been reached. I2i, which was established in October 2000, involved constructing an 8.4Tbps loop system worth $650 million between Singapore and India. Landfalls were planned at Mumbai and Chennai. The Chennai-Mumbai extension did not materialize, but after the Singapore-Chennai segment came into operation in early 2002, Bharti Airtel and SingTel signed a MoU to try and expand i2i in Asia, Europe, and the Middle East.

Indian companies are increasingly acquiring global submarine cable networks, with Reliance Infocomm acquiring FLAG Telecom for $211 million in 2004 and VSNL acquiring Tyco...

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