Monday, July 16, 2007

Flag Telecom buys US-based Yipes for $300mn

Flag Telecom, an Anil Dhirubhai Ambani Group company, has signed a definitive agreement to buy US-based Yipes Communcations for $300 million.

This was announced by Anil Ambani, chairman of the R-ADAG group in Mumbai a short while ago.Ambani said Flag will leverage its reach globally, and extend the reach of Yipes across the world.

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