VSNL to be re-christened Tata Communications Ltd

New Delhi, Oct 31 (UNI) Videsh Sanchar Nigam Ltd (VSNL) today said its board has approved a the change of the name of the company to Tata Communications Ltd.

The new name and identity will help the company leverage the immense brand equity associated with the Tata Group and the tremendous global recognition that the Group has received in recent years, statetemnt said.

''The change in the company's name is a major step in our commitment to customers, partners and stakeholders,'' VSNL Managing Director and CEO N Srinath said.

A public-private partnership, the Tata Group assumed management control of VSNL five years ago and has pumped in more then one billion dollars in investments.

VSNL said the change in name is subject to obtaining required statutory approvals including that of the company's shareholders.

The brand change will be unveiled globally through an integrated brand campaign.

The company reported a total stand-alone income of Rs 2,025 crore for the half year ended September 30, against Rs 1,956 crore for the corresponding period last year.

Net profits on a standalone basis for the half-year ended September 30, were Rs 166 crore against Rs 195 crore for the half year.

UNI