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July 21, 2001
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Money > Business Headlines > Report July 21, 2001 |
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VSNL head S K Gupta on Intelsat boardBS Corporate Bureau S K Gupta, chairman and managing director of Videsh Sanchar Nigam Ltd, has been elected as one of the directors on the board of Intelsat. India has an equity stake of 5.4 per cent in Intelsat, and is the third largest investor in the privatised company. The top brass of VSNL faced stiff competition from among the nominations received from a number of countries to eight seats available for election for nominees of the shareholders of Intelsat. Intelsat is an international communications firm offering Internet, broadcast, telephony and corporate network solutions in more than 200 countries and territories through its fleet of 20 geostationary satellites. Intelsat's global sales and marketing force is located in Australia, Brazil, Hong Kong, Germany, India, Norway, Singapore, South Africa, the UK and the US. In June, Intelsat launched the first of ten satellites planned over the next two years, making the beginning of the most aggressive satellite launch campaign in its history, according to a press release from VSNL. Formed in 1964 to provide global communications, Intelsat resulted from the Communications Satellite Act signed by US president Kennedy in 1962. The decision to privatise was formally made by Intelsat's member nations in November 2000 to enhance the company's flexibility and competitiveness in an increasingly dynamic market. Powered by YOU MAY ALSO WANT TO READ:
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