Videsh Sanchar Nigam (VSNL) has signed a share purchase agreement to acquire Direct Internet (DIL) and its wholly-owned subsidiary, Primus Telecommunications India (PTIL), for an enterprise value of Rs 75 crore.According to a release issued by VSNL to the BSE today, PTIL provides fixed broadband wireless Internet services to small and medium enterprises (SMEs) in several cities in India."The completion of the transaction is subject to a number of conditions precedent, and is expected to be over in the next few weeks," the release added.
